Glen Dimplex’s Northern Ireland unit slumped to a loss of more than £8.2 million (€9.6 million) last year amid weakening demand in the UK market and a surge in restructuring costs as the group ploughed ahead with plans to consolidate its Irish operations.
New accounts for Glen Electric – the founder of which, Martin Naughton, died aged 87 last month – reveal the electrical goods manufacturer also reduced its headcount by almost 19 per cent in the 12 months to the end of September last.
The company – which is registered in Newry, Co Down, where the group was founded a little more than 50 years ago – employed an average of 1,070 people in 2025, down from 1,313 in 2024. Most of the cuts were in its production, selling and distribution division, while average staffing numbers in administrative roles increased slightly in the year.
Glen Dimplex said in 2024 that it was looking for 300 redundancies across the island of Ireland as it pursued its consolidation plans.
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In its latest accounts filed with Companies House in the UK, Glen Electric reported a 6.2 per cent dip in revenues to £243.6 million last year, which the directors said was “driven by ongoing softness in the UK market”. Consequently, the unit swung to a £2.75 million operating loss in 2025 from a £5.77 million profit in 2024.
The company also incurred restructuring and unspecified “non-trading” costs of £13.7 million, up from £8.6 million. After tax, Glen Electric reported an £8.23 million loss compared to a £22.19 million profit in 2024.
In a report attached to the accounts, the directors said the group had experienced “two years of contraction in the UK market”. Glen Dimplex has responded by “accelerating consolidation and efficiency measures across manufacturing and support functions and by prioritising investment in higher growth and higher margin areas of the business”, they said.
These actions included “further manufacturing consolidation, targeted site and headcount rationalisation”, and are aimed at delivering “improved profitability over the medium term”, the directors said.
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Earlier this year, Siptu said it would seek to engage with the management of the group’s Newry plant, where staff were told in January that 51 jobs are to go as part of the firm’s ongoing restructuring.
Two years ago, the group said it would consolidate its operations on the island of Ireland to five sites with the loss of up to 300 jobs and the relocation of some manufacturing capacity to Lithuania.
There was to be significant investment in a number of the remaining locations, including Newry, however.
In January 2025, Glen Dimplex also said that around 70 jobs would be cut at its plant in Dunleer in Co Louth.
