Profits nearly doubled at fancy grocer Fallon & Byrne last year
The upmarket food store also reported sales of more than €13m.
PROFITS NEARLY DOUBLED last year at upmarket supermarket, restaurant and wine shop Fallon & Byrne.
Sarzala Limited, the company behind the grocer and food business, reported a net profit of more than €234,000 for the financial year ended 30 June 2016. That’s an increase of €114,000 on the previous 12-month period, according to newly filed accounts.
Sales were up as well, by €550,000, to more than €13 million for the year.
Founded in 2006, Fallon & Byrne is one of Dublin’s best-known organic grocers. Its flagship Exchequer Street ‘emporium’ is a popular lunch and tourist spot.
It also operates a restaurant and café deli in the Victorian tea rooms in the People’s Park, Dún Laoghaire.
It was reported last year that Fallon & Byrne will open in a third location – the Swan Centre, Rathmines, which underwent a €2 million renovation. The shopping centre is currently anchored by Dunnes Stores and an Omniplex cinema.
Fallon & Byrne co-founder Fiona McHugh said at the time that the new location was a “really exciting opportunity” for the grocer.
“We love the plans to create an elegant, contemporary extension to the Castlewood Road side of the centre and very much look forward to creating a beautiful food hall to match,” she said last year.
Fallon & Byrne, Exchequer Street
‘Foodie mecca’
Fallon & Byrne’s Exchequer Street store is a self-described “foodie mecca” with a large selection of exotic fruits and vegetables, meats, cheeses and imported confectionery.
The upstairs restaurant is described as one of Dublin’s “most handsome rooms”, while the wine cellar is stocked with a large selection, ”all of them eminently quaffable”.
According to a report attached to Sarzala’s accounts, Fallon & Byrne’s directors are “optimistic regarding the future prospects for the company” thanks to Ireland’s improved economic performance.
The company identified cost increases and health and safety concerns as its principal risks.
“We work closely with our suppliers and distributors in order to obtain the best quality products and ingredients and ensure availability to our customers,” the directors’ report said.
According to the 2016 accounts, Fallon & Byrne employed an average of 179 people last year – five fewer than the previous year, with the reduction coming in the company’s sales team. Despite this, the firm’s wages bill increased by €365,500 to almost €5 million.
