DUBLIN: New figures show that the Galway- headquartered firm enjoyed massive growth in 2015 in the UK with sales climbing from £256m to £334m on the back of new store openings.
The 30pc increase in revenues for Smyth’s Toys UK Ltd in the 12 months to the end of December last followed sale growth of 34pc in 2014. It entered the UK market in 2007 and its business has grown exponentially there since then.
The firm is Ireland’s largest toy retailer and the extent of its profits here are not published here as the firm has unlimited status. It now operates 98 stores with the number of UK stores increasing to 70 in the past year. The business operates 21 stores in the Republic and seven in Northern Ireland.
Based on an average revenue per store in the UK in 2015, the business across Ireland the UK boasts estimated annual revenues of over €530m. The business is led by the four low-profile Smyth brothers, Anthony, Liam, Patrick and Thomas.
The directors, said they “are very pleased with the increase in profit particularly given the current economic climate and the increasing competition in the market place”.
