The owner of the Lifestyle Sports retail chain remained highly profitable and cash generative in the year to the end of September this year, despite the impact of Covid-19.
That is according to new accounts for Stafford Holdings Ltd and subsidiaries, where the directors state that the company has put in a series of actions to cushion the adverse impact of Covid-19.
They state that while the business's reported earnings before interest, tax, depreciation and amortisation (EBITDA) and profit before tax this year are down on 2019, "the group remained highly profitable and cash generative in FY2020".
The series of actions put in place in response to Covid included aggressively driving the group’s online business, cost cutting measures and accessing a range of Government supports including the Wage Subsidy Scheme, VAT warehousing and rates holidays.
The new accounts show that pre-tax profits at the group increased by 45% to €6.1m in the 12 months to the end of September last year.
This followed revenues increasing by 3.5% from €114.39m to €118.45m.
The directors state that the group's EBITDA last year was €10.4m compared to €8.5m in 2018.
Dividends of €2m were approved during the year and this followed dividends of €4.2m in 2018.
Numbers employed total 482 and staff costs last year reached €16.8m.
Pay to directors, including pension payments, last year increased by 44% to €1.6m.
The directors state that the group is appropriately structured and capitalised in order to continue to make progress towards generating satisfactory returns for its shareholders.
