Pre-tax profits at the tech retail group, which purchased DID Electrical last December, declined by 23% to €1.36m.
New accounts filed by Apple reseller, Select Technology Sales and Distribution Group Ltd show that the group recorded the drop in profit after revenues dipped by 10.5% from €193.55m to €173.1m in the 12 months to the end of September last.
The DID Electrical purchase from the Houlihan family adds 23 stores to the group and prior to the DID Electrical purchase, the Select Group was a premium Apple re-seller across 34 locations in Ireland and the UK. The group recorded 69% of its revenues in the UK where revenues declined by 12% to €119.55m last year.
They state that"pressures remain principally in the UK and also the Irish retail and Education market sectors, and the release cycles remain challenging, however the directors are confident that the business will continue to grow and focus further on profitability enhancement".
Business DID Select Technology Group
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