However, the accounts show that the company disposed of unspecified fixed assets valued at over 250,000 during the year, which may have in"ated its pro"ts.

The firm also cleared a bank overdraft of 451,000 during the year and reduced the quantity of stock it held at the end of the financial year from 1 m in 2004 to 634,000 a year later.

The company, which is controlled by the Fearon family, specialises in collaborations with wellknown contemporary Irish designers.

Two months ago, it launched collections by fashion designer Louise Kennedy and Dublin restauranteur Patrick Guillbaud.