Giraffe Childcare operates 24 creches around Dublin, Kildare and Meath
Profits at Ireland’s largest childcare group ballooned during the pandemic with more than €19 million in Covid supports from the Government over three years, new accounts reveal. Photograph: Eric Luke
The accounts show that, at the end of 2022, Giraffe Childcare’s owner, the investment arm of a Canadian pension fund, was sitting on accumulated profits of €19.6 million, up from just €1.4 million at the end of 2019. Trading revenues at the group slightly exceeded pre-Covid levels in 2021, according to the latest filings. Pretax profits, meanwhile, shot up to almost €13.5 million in 2021, largely due to the €10.54 million it received in Covid subsidies in that year, representing a 500 per cent increase from pre-Covid 2019.
“We were grateful for the Government support during that period, and since the pandemic we have made significant investments in the childcare sector opening four new centres with plans for further expansion in 2025.”
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