Pretax profit more than doubled at DID Electrical last year to €1.3 million, boosted by the opening of a store in Limerick city.
New accounts filed by DID Electrical Appliances Ltd show that profit increased by 151 per cent as revenue decreased by 29.5 per cent from €142.17 million to €100.69 million in the 12 months to the end of September last.
However, the revenue figures are skewed as the reporting period was for 18 months.
The pretax profit of €1.3 million follows pretax profit of €519,672 for the previous 18-month period where profits were impacted by exceptional costs of €3.34 million.
RM Block
DID Electrical is owned by tech retail group and Apple premium partner Select, which purchased the business from the Houlihan family in 2023.
DID Electrical – which operates 24 stores across the country -opened its new store at the Childers Road Retail Park in Limerick in July 2025.
In a note with the accounts the directors said that they were “satisfied with the results of the company and that the decisions and investment made will benefit the company and work towards ensuring the medium and long-term growth”.
On the company’s future developments they said “pressures remain high in the Irish retail and corporate business sectors as challenges surrounding timing of new product development continue to strain the industry”.
[ Former owners of DID Electrical paid themselves dividend of €11m in asset formOpens in new window ]
Despite this, the directors are confident the business will be able to deliver on these strategic points.
The accounts said the board believed the general economic conditions, and the retail sector climate particularly, would continue to evolve, change and mature over time, with further impact of the ecommerce sales affecting the high-street sales environment.
However, “the company is now well positioned to maximise its growth story in the short to medium term and deliver long-term value enhancement for all stakeholders”, the note said.
Numbers employed reduced from 366 to 344 as staff costs declined from €18.02 million to €12.52 million.
The profit takes account of combined non-cash amortisation and depreciation costs of €733,884 and operating lease charges of €3.18 million.
Separate consolidated accounts for the owner of DID Electrical, Select Technology Sales and Distribution Group Ltd, show revenue increased by 12 per cent from €279.43 million to €314.7 million in the 12 months to the end of September.
Sales in Ireland totalled €214.86 million, made up of DID Electrical and Select Store sales for the 12-month period.
Pretax profit declined by 27 per cent to €2 million as directors report that “sales in the Irish retail and business market sectors performed very well”.
