MJ Flood posts EUR2.95m surplus

Business technology provider MJ Flood returned to profit last year, recording a pre-tax surplus of €2.95 million.

Accounts filed by the firm show Dublin-based MJF (Holdings) Ltd increased its revenues by 32 per cent in 2011 to €35.75 million from €26.93 million the previous year. The office supplies provider recorded a pre-tax loss of €244,544 in 2010 after writing €1.5 million off the value of properties.

The figures show the company more than doubled its operating profits last year from €1.28 million to €3 million. At the end of December last, it had accumulated profits totalling €29.7 million. Its workforce fell to 118 in 2011 from 121 in 2010, with 97 in selling and distribution and 21 in administration. Its cost of sales last year increased from €16.7 million to €22.7 million, with selling and distribution costs increasing marginally from €4.51 million to €4.52 million. Operating expenses increased from €4.3 million to €5.4 million.

The firm was established in 1935 on Dublin’s Pearse Street and now, along with its Dublin HQ, it has seven regional branches.