New accounts filed by O’Neill’s Balbriggan Textiles Ltd shows pre-tax profits rose by 2pc to €3.4m after the group’s gross profit increased by 1.5pc from €14.48m to €14.69m in 2024.
O’Neill’s finance director Paul Towell said the Cork replica jersey has been a bestseller across 2024 and 2025.
Mr Towell said the sales of Clare replica jerseys received a second boost in 2024 with “very strong” sales of the commemorative blue Michael Cusack jersey.
He said O’Neill’s also enjoyed “a lingering dividend” from actor Paul Mescal being pictured in O’Neill’s sports gear with sales of the firm’s shorts “still strong in 2024 and 2025”.
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Th 2024 financial year was a very good year, he said, with sales also boosted by Derry City’s 2024 FAI Cup final appearance and Cliftonville winning the Irish Cup Final.
Mr Towell said the firm also enjoyed “very strong sales” of the Bohemians’ Fontaines DC jersey.
The O’Neill’s brand is still dealing with the effects of the condensed inter-county GAA season.
We re-invest the profits back into the business and the company has never paid a dividend
“It is a negative,” said Mr Towell. “It is a loss of six weeks of sales, and sales have more or less stabilised since last year.”
O’Neill’s employs 1,070 people north and south of the Border. This year the company invested €3m in adding 50,000 sq ft of capacity to its manufacturing plant in Strabane, Co Tyrone.
The firm has also invested in a new sales centre at Haydock in England to serve its UK business.
“We re-invest the profits back into the business and the company has never paid a dividend,” said Mr Towell.
Operating profits declined marginally from €3.08m to €2.95m.
More than a doubling in interest receivable to €450,042 resulted in a pre-tax profit of €3.4m.
The profits also take account of non-cash depreciation charges of €339,821.
Mr Towell said business in 2025 “has been good and revenues have increased by 5pc on last year”.
Numbers employed at the firm’s Dublin unit increased by nine to 147 and staff costs totalled €6.45m. Accumulated profits increased to €27.92m as cash funds rose from €9.2m to €11.59m.
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