Sales at Ireland’s chain of Smyths Toy stores fell marginally last year but pretax profit jumped almost 17 per cent.
Revenue from the retail sale of goods at Smyths Toys Limited’s 21 stores in the Republic slipped by just over 1 per cent to €282.1 million from €285.7 million in 2023.
The company also earns revenue from the provision of services to group companies. That figure was up on the year which meant overall turnover was 3.3 per cent higher at €296.6 million.
In results released by the family-owned group as it heads into its busy Christmas season, Smyths said pretax profits surged almost 17 per cent to €6.97 million.
RM Block
The Galway-based company paid a divided of €8 million to its shareholders, all members of the Smyth family, up from €5 million the previous year.
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Staff costs at the group which employs 753 people, up from 739 in 2023, were 7.7 per cent up at just under €20 million.
The group last month reported record sales of £953.5 million (€1.09 billion) at its UK arm last year, up 2 per cent, with profits before tax up marginally at £18.5 million.
