New accounts filed by the family-owned business’s Central European and French units show the growth in the business was driven by sales increases in its store network across Europe in 2023.
Combined pre-tax profits at the retailer’s Irish, UK, Northern Ireland, Central European and French units total €54.6m for 2023.
Underlying the scale of the Smyths Toys business across the eight territories it operates in, numbers employed increased to 7,985 last year, with a combined staff cost bill of €231m.
The group’s superstore network now extends to 225 outlets.
The best performing unit on a like-for-like basis was the Smyths Toys EU HQ Unlimited, which accounts for retail sales across Germany, Austria, Switzerland, Holland and online sales.
They show that revenues increased by €91.3m or 14pc from €648.75m to €740.1m in 2023.
The directors state that the sales increase was driven by an increase in market share and the opening of 10 new stores during the year.
The accounts provide the first insight into the growth of Smyths Toys Central European business in three years, as auditor reports were filed for the unlimited company’s performance for 2022 and 2021.
Pre-tax profits at Smyths Toys EU HQ Unlimited last year totalled €19.9m.
The new accounts for its French arm, Smyths Toys FR Holding, show revenues rose by 168pc from €102m to €273.86m, but the 2022 accounts were for a six-month period following the Smyths Toys purchase of Picwic Toys.
The accounts show Smyths Toys purchased the liabilities and assets of Picwic Toys for €20.7m on July 6 2022, which included 41 stores and a website.
Smyths Toys made an initial investment of €50m in Smyths Toys FR. On the first full year of the Smyths Toys French business, Smyths Toys FR Holding recorded a pre-tax profit of €5.1m.
The directors say they are pleased with the performance of the French unit “as they continue to develop the French business”.
Separate accounts for the Irish arm show Smyths Toys Ltd last year recorded pre-tax profits of €5.97m on revenues of €287m. Numbers employed at the Irish arm total 739.