O’Neills post record €3.4m profits as Cork jersey sales soar in 2024

Kenneth Fox

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 €3.4 million in 2024.

New accounts filed by O’Neill’s Balbriggan Textiles Ltd show that pre-tax profits rose by 2% to €3.4 million after the group’s gross profit increased by 1.5 per cent from €14.48 million to €14.69 million in 2024.

Finance director with O’Neill’s, Paul Towell, said that the Cork replica jersey has been the 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’Neill’s enjoys “a lingering dividend” from the Paul Mescal Normal People effect dating back to 2020 with sales of O'Neill shorts "still strong in 2024 and 2025".

He said that 2024 “was a very good year,” where business was also 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.

Mr Towell stated that the O’Neill’s brand is still dealing with the condensed GAA inter-county season. He said: “It is a negative. It is a loss of six weeks of sales, and sales have more or less stabilised since last year.

O’Neills employs 1,070 employees north and south, and he said that this year, the company has invested €3 million in adding 50,000 sq ft 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.

Mr Towell said: “We reinvest the profits back into the business, and the company has never paid a dividend.”

The accounts show that operating profits declined marginally from €3.08 million to €2.95 million, and more than a doubling in interest receivable to €450,042 resulted in the pre-tax profit of €3.4 million.

The profits also take account of non-cash depreciation charges of €339,821.

Mr Towell said that business in 2025 “has been good and revenue has increased by 5 per cent on last year”.

Numbers employed by Balbriggan Textiles increased by nine to 147, and staff costs totalled €6.45 million.

Accumulated profits increased to €27.92m million cash funds increased from €9.2 million to €11.59 million.

The company recorded a post-tax profit of €2.86 million after incurring a corporation tax charge of €541,482.