The Enniskillen-based all-island retailer Modern Tyres reported a 27% increase in pre-tax profit to £4 million for 2023, new accounts show.
The family-owned firm, which has 40 sites across the island, posted a 12% uplift in turnover last year to £56.8m, according to the latest report filed with Companies House.
Set up by Dublin-native Jimmy Byrne in Co Fermanagh in 1965, Modern Tyres has grown into the island’s largest independent tyre network.
The retail and service business, now run by the late businessman’s four sons, reported rising sales on both sides of the border in the year ending December 31 2023.
Turnover in the north rose £3.6m to £36m, while revenues in the Republic increased by £2.6m to £20.8m.
The business continued to grow its workforce, with an average of 298 employees in 2023.
Staff costs increased by 12% in 2023 to £9.4m.
Last year also saw the Byrne family acquire the former South West College campus in Enniskillen.
Their current regeneration proposal for the site includes a new hotel, offices and retail space.
