Expansion costs lead to drop in Therapie profits
Pre-tax profits at Therapie fell 95pc to €73,051 last year due to expansion costs.
Accounts filed by its parent company Fellerim Ltd show that they decreased as revenues increased 29pc to €26.24m. Revenues in the Republic increased 17pc to €20.1m, while revenues in Northern Ireland increased 42pc to €3.6m.
Operated by brother and sister Phillip and Katie McGlade, Therapie increased revenues due to new clinic openings here and in the UK last year. It opened four new outlets – two here and two in the UK – and intend to open further clinics in both Ireland and UK over the coming months and years. The brand has also been introduced to India.
Therapie has 19 clinics operating on the island of Ireland, with stores at Athlone, Cork, Dublin, Galway, Limerick, Sligo, Waterford, Wexford, Enniskillen and Belfast. Its staff numbers increased from 216 to 299 as staff costs went up from €7mto €9.94m.
Therapie first opened its doors almost 20 years ago and says it is now established as Europe’s No 1 provider of laser hair removal and aesthetic treatments. Its skin treatments use products from internationally renowned names such as Image Skincare, Murad and Environ.
