Irish owned retailer Eason increased its pretax profit by 76 per cent to €4.4 million last year, with turnover rising by a “modest” 2.2 per cent to €126 million in what was described as a year of “macro/market challenges” by its chairman David Dilger.
In a letter to shareholders on the publications of its annual accounts, Mr Dilger also outlined plans to pay an interim dividend of just more than €2 million to shareholders in December.
This payment follows a recent move by the board of Eason to return up to €14 million to shareholders, via share buy-backs and dividend payments. The company was valued at €72 million by Mazars in December 2024.
Mr Dilger described the trading outcome for last year as “satisfactory” in a period that included a “very significant [12.4 per cent] increase in minimum wage rates, a very disappointing book market in the final quarter, and the extension of the Government’s free schoolbook scheme to secondary level, which negatively impacted both the schoolbook and school stationery markets”.
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Accounts for the year to January 26th 2025, show that its pretax profit rose to €4.4 million, up from €2.5 million a year earlier (a period that included the impact of a property devaluation”.
Group Ebitda (earnings before interest, tax, depreciation and amortisation) was €7.3 million, down €1.1m on the previous year.
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“This still represents a solid performance when assessed against recent years and given the market context,” he said.
In terms of year-to-date trading, Mr Dilger noted a “good evidence of recovery” in the first half of 2025.
“However, with the launch of a dedicated Amazon.ie website in March 2025, maintaining the balance between market share and margin is a continuing challenge.
“While there are some strong new title releases slated for Christmas 2025, it is too early yet to make full-year market predictions.”
After a “quiet year in 2024″ with no expansion of the store estate, Eason has added outlets in Blackpool, Co Cork and in Parkway Shopping Centre, Limerick.
“We have also completed the acquisition of the Eason franchise store in Shannon, Co Clare,” Mr Dilger said.
Mr Dilger said that for the first time in over 10 years the Irish book market posted a value decline year-on-year.
“The absence of strong Irish published titles and the Government’s further intervention in the schoolbook market, with free secondary schoolbooks and school stationery for Junior Cert cycle students, contributed to an overall market decline of -4.5%.
