Golden Discs recorded a profit of €172,878 for 2016, with new store openings driving revenue to €17.9m.

This follows a loss of €450,000 for the previous year, and a profit of €30,855 for the financial year ending June 2014.

Across the year, the company opened a new store in Dundrum Town Centre and a pop-up store on Dublin’s Henry Street for the Christmas period.

The company said it reported significant growth in audio products with vinyl sales up over 100% on the previous year.

"Vinyl sales are at a 25 year high and are continuing to grow" said Golden Disc Group Chief Executive Stephen Fitzgerald.

"Vinyl’s renaissance proves the desire to own music in the physical format remains strong".

Golden Discs recently opened The Vinyl Lounge, a hybrid vinyl shop, cafe, exhibition space and music venue in the Cork flagship store on Patrick Street.
 
The company has also just opened a new store on Limerick’s Cruises Street bringing the total to 13 standalone stores nationwide.

The company said it is considering additional store openings over the coming months.
 
Golden Discs is also set to launch a new webstore later this month which will feature an extensive range of catalogue as well as new release audio and visual products.
 
Golden Discs has traded in Ireland since 1962.