Business for the family owned Wrights of Howth Group “looks very good for 2024,” company director Bernie Wright said, ahead of a new store opening for the group at Terminal 1 at Dublin Airport this Friday.
Ms Wright said that the group is “also back in T2 terminal” at Dublin airport with a new company store there.
The expansion of the group comes as new accounts for Wrights of Howth Group Holdings Ltd show that revenues more than doubled to €20 million in the 12 months to the end of January 2023 as the business continued its Covid-19 business recovery.
The business operates retail and restaurant units in Dublin airport, retail and restaurant businesses in Howth, the operation of a licensed premises at Heuston Station and the wholesale distribution of fish.
Numbers employed at the business in the year under review almost doubled from 106 to 204 as revenues increased by 146 per cent from €8.1 million to €20.01 million.
The directors state that the increase in revenues “can be attributed to the lifting of Covid restrictions and a return to full year trading”.
The directors were “satisfied with the results”.
The group recorded a pre-tax loss of €160,927 after taking into account interest costs of €120,058 and sustaining an operating loss of €40,869.
The pre-tax loss of €160,927 followed a pre-tax profit of €49,938 in the prior year.
The firm benefited from ‘other operating income’ in Government grants of €167,119 last year compared to €1.89 million under that heading in the 12 months to the end of January 2022.
The 98 increase to 204 in head count resulted in staff costs rising from €2.62 million to €4.7 million.
Five directors served during the year, Bernie Wright, Aishling Wright, David Wright and Michael Wright and Darren Wright who both resigned from the board on January 25th 2023.
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