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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.
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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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