The Irish company that runs the Tiger chain of retail stores recorded revenues that were 66 per cent higher last year, new accounts show.
Tiger Retail Ireland Limited, which is 50 per cent owned by husband and wife team Gillian Maxwell and Niall Stringer, with the remainder owned by the Danish parent behind the business, Zebra A/S, recorded revenues of €14 million in 2015, up from €8.4 million a year earlier.
Pretax profits also rose, reaching €1.9 million, as against €1.3 million in 2014. Shareholders’ funds rose to €3.35 million, compared to €1.74 million in the prior year.
A €1 million dividend was approved by directors to be paid equally among shareholders, according to the accounts.
The retail chain, which rebranded as Flying Tiger Copenhagen earlier this year as part of a group-wide rebrand by Zebra A/S, operates 24 stores across Ireland. The company, which opened its first store in Dun Laoghaire in 2011, recently announced plans to open a further 12 outlets by the end of 2017.
The parent company, which was established in 2000, has more than 600 stores in 28 countries. Lennart Lajboschitz, who founded the chain first opened a shop called Zebra in Copenhagen in the late 1990s. The store later rebranded under the Tiger name as more stores were added.
The retailer provides good value, design-led products in everyday categories such as kitchen utensils, office supplies, toys, hobby and crafts, party products, food, stationery, electronics, sports, gadgets and fashion accessories.
Tiger Retail Ireland employed 160 people last year, up from 140 a year earlier. Staff costs, including wages and salaries, jumped from €1.6 million to €2.8 million last year. Director’s remuneration totalled €146,500, which included pension contributions of €14,000.
The accounts show Zebra A/S, which is the sole supplier of goods to the Irish company, was owed €130,000. An outstanding loan of a further €130,000 to Mr Stringer was also recorded.
Tiger bought some €5.8 million worth of goods from Zebra A/S last year, as against €3 million a year over.
Ms Maxwell and Mr Stringer have been shortlisted for an EY Entrepreneur of the Year award in the emerging category. Winners will be announced on Thursday.
