Accounts for FLWG Holdings Ltd show revenues decreased by 11% to €24.4m in the 12 months to the end of November
Pretax profits at the firm behind the Dubarry clothing and footwear brand last year declined by €1 million or 21.6 per cent to €3.77 million during “a particularly challenging trading environment”.
“Challenges included the continued inflationary pressures combined with selling into weakening economies,” the accounts set out, adding that conditions resulted in reduced sales and squeezed margins. Demand in certain economies was also said to be below expectations, resulting in the group carrying higher than anticipated stock levels at year’s end.
FLWG Holdings directors Eamonn Fagan, Michael Larkin and Michael Walsh said the group hopes to retain its market share in improving economies and it is continuing to look at new opportunities to expand.
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