New accounts filed by TJX Ireland UC show that revenues also rose, by 1.6pc from €230.44m to €234.18m, in the 12 months to the end of February 1 last.
The €10.13m recorded for this year followed pre-tax profits of €7.47m in the prior 53-week period.
In the accounts the directors state that the increase in turnover was primarily driven by an increase in customer transactions.
The accounts also cover the performance of the firm’s Homesense stores. There are currently 27 TK Maxx stores, with no increase over the year, while the number of Homesense stores also remained the same, at two.
The directors state that the main activity of the company is the retailing of quality, fashionable brand-name and designer merchandise at generally 20pc to 60pc below retailers’ regular prices on comparable merchandise.
The increase in profit is attributed to a reduction in administrative expenses, which declined sharply from €26.1m to €19.9m.
The company enjoyed a post-tax profit of €8.45m after incurring a corporation tax charge of €1.68m.
The US-headquartered business recorded operating profits of €8.57m, while it was interest income of €1.55m that increased pre-tax profits to €10.13m.
Numbers employed by the group declined slightly from 1,271 to 1,269 as staff costs increased from €29.34m to €30.5m.
The breakdown of revenues show that TK Maxx generated €225m, while €8.6m was taken in at Homesense.
The profit last year takes account of non-cash depreciation costs of €3.7m while rent costs totalled €11.09m and ‘other lease costs’ totalled €2.48m.
At the end of February 3, the firm’s accumulated profits totalled €58.72m. The firm’s cash funds last year increased from €37.55m to €48.96m.
Under the heading of contingent liabilities, a note states that the firm has a €17.4m comprehensive guarantee in place in respect of duty and deferment taxes to Revenue, and the €17.4m guarantee remained unchanged from one year prior.
Separate accounts filed by the UK arm, TJX UK, show that it recorded pre-tax profits of £117.6m as revenues increased marginally from £4.02bn to £4.15bn in the 12 months to February 1.
The firm operates 355 TK Maxx and 73 Homesense where numbers employed last year totalled 25,463 as staff costs totalled £709m.
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