Companies

Sales at electrical retailer Power City drop 10% to €94m

Company has several stores in Dublin — including Tallaght, Blanchardstown, Finglas, Coolock, Fonthill, Carrickmines, and Swords — as well as stores in Bray, Naas and Drogheda

In the directors’ report, as part of the accounts, they state that the risks to the company include “any failure to listen to the company’s customers and to understand the changing marketplace”.

Power City, the electronics retailer owned by the McKenna family, had revenues of €94.5 million in 2022, down 10.5 per cent on the previous year’s sales of €105.5 million, new accounts show.

The company’s directors describing the trading activity as “satisfactory”, and noted that “costs continue to be well managed and reduced slightly during the period”.

That reduction in costs — from €96.9 million to €85.2 million — resulted in a pre-tax profit of €9.3 ...