Bumper sales in replica jerseys for 2024 senior All-Ireland hurling winners Clare and losing finalists Cork helped sport-brand O’Neills to record pre-tax profits of €3.4m last year.
New accounts filed by O’Neills’ Balbriggan Textiles Ltd shows that pre-tax profits rose by 2% to €3.4m after the group’s gross profit increased by 1.5% from €14.48m to €14.69m in 2024.
Finance Director with O’Neills, Paul Towell, said that the Cork replica jersey has been a best seller across 2024 and 2025.
Mr Towell said that the sales of Clare replica jerseys received a second boost in 2024 with “very strong” sales of the commemorative blue Michael Cusack jersey which the senior hurlers wore in their All-Ireland semi-final win over Kilkenny.
Mr Towell said that O’Neills enjoys “a lingering dividend” from the Paul Mescal Normal People effect dating back from 2020 with sales of O’Neills shorts “still strong in 2024 and 2025”.
He also said that 2024 “was a very good year” where business was boosted by replica jersey sales due to Derry City’s 2024 FAI Cup Final appearance and Cliftonville winning the Irish Cup Final.
Mr Towell said that the firm has also enjoyed “very strong sales” of Bohemians DC Fontaines jersey.
The O’Neills brand is still dealing with the condensed GAA inter county season, Mr Towell said.
“It is a negative. It is a loss of six weeks of sales and sales have more or less stabilised since last year,” he added.
Mr Towell said that today O’Neills employ 1,070 employees north and south and he said that this year, the company has invested €3m in adding 50,000 sq feet capacity to its manufacturing plant in Strabane.
He said that the firm has also invested in a new sales centre at Haydock in England to serve its UK business.
“We re-invest the profits back into the business and the company has never paid a dividend,” he said.
The accounts show that operating profits declined marginally from €3.08m to €2.95m and more than a doubling in interest receivable to €450,042 resulted in the pre-tax profit of €3.4m.
The profits also take account of non-cash depreciation charges of €339,821.
Mr Towell said that business in 2025 “has been good and revenues have increased by 5% on last year”.
Numbers employed by Balbriggan Textiles increased by nine to 147 and staff costs totalled €6.45m.
Accumulated profits increased to €27.92m as cash funds increased from €9.2m to €11.59m.
The company recorded a post tax profit of €2.86m after incurring a corporation tax charge of €541,482.
Reporting by Gordon Deegan
