Profits at Lifestyle Sports up nine per cent
Published 08/09/2015 | 00:00
Pre-tax profits at the Wexford group behind Lifestyle Sports increased 9 per cent to €2.37m last year.
Financial accounts for the business, Stafford Holdings, and its subsidiaries show the group increased profits despite a decline in revenues of 3 per cent to €346.8m in the 12 months to the end of September last.
In an accompanying statement, chairman Victor Stafford said: 'The performance of Lifestyle Sports in particular was very satisfactory and this business is now the largest contributor to both profit before tax and earnings before interest, tax, depreciation and amortisation (EBITDA).'
He said growth had continued into 2015. The figures take account of rationalisation costs of €462,000. The family-owned Stafford group bought Lifestyle Sports for €60m in 2005.
The group also owns Campus Oil and Stafford Fuels. The directors' report states that 'all three trading businesses contributed in a material way to the group's EBITDA generated during the year'.