Expansion costs at the 'Sculpted' make-up brand firm owned by 30 year old Dubliner, Aimee Connolly last year contributed to pre-tax profits declining by 21% to €2.39 million.
In another buoyant year for Sculpted by Aimee Connolly Cosmetics Ltd, the firm’s pre-tax profits of €2.39 million follow pre-tax profits of €3.03 million in 2021.
The sizeable profits of the past two years resulted in the company having accumulated profits of €6.55 million at the end of last December.
CEO, Ms Connolly only established her cosmetics business in 2016, having previously worked as a freelance makeup artist and it continues to expand.
The business mixes bricks and mortar stores and engaging in-person brand experiences along with its e-commerce business.
Following the opening of a store on Dublin’s Grafton Street in September 2022, the brand only last month opened a store at Victoria Square in Belfast. The Sculpted by Aimee brand also has an outlet at Kildare Village.
In 2021 Ms Connolly - who has 190,000 followers on Instagram - won the Emerging Category at the EY Entrepreneur of the Year awards.
With the Grafton Street flagship store opening, the business continued to expand last year as numbers employed increased from 15 to 26 with the headcount counting to increase this year as the brand has launched in the UK and the Middle East.
The firm recorded post tax profits last year of €2.089 million after paying corporation tax of €307,647. The post tax profits of €2.089 million last year follow post tax profits of €2.65 million in 2021. Director’s pay for Ms Connolly totalled €80,000.
Last year, the company’s cash funds increased from €1.57 million to €2.65 million while the amount owed by debtors to the business last year increased from €2.27 million to €4.01m.
In an interview on RTÉ 1 Radio earlier this year, Ms Connolly said: "I have 100% global ambitions for this brand and I fully believe that we can achieve it."
She added: "I am very much building and building because I absolutely adore the company….I think there is so much left that we have to do. Right now, selling or exiting is nowhere near my line of sight and I am very much in it for the long haul to see where we can take the brand."
Reporting by Gordon Deegan
