Newly filed accounts from the company’s Central European and French divisions attribute this growth to increased sales across its extensive European store network. Combined pre-tax profits for the Irish, UK, Central European, and French operations totaled €54.6 million for the year.

Highlighting the scale of Smyths Toys’ operations, staff numbers rose to 7,985 in 2023, with a total wage bill of €231 million. The group’s superstore network has now expanded to 225 outlets.

Smyths Toys EU HQ Unlimited, responsible for retail operations in Germany, Austria, Switzerland, the Netherlands, and online sales, was the top performer on a like-for-like basis. Revenues for this division climbed by €91.3 million, or 14%, from €648.75 million to €740.1 million. Directors attributed the growth to increased market share and the opening of 10 new stores in 2023. Pre-tax profits for this unit reached €19.9 million.

The accounts also provide the first detailed look at Smyths’ Central European performance in three years, as the company filed reports for 2021 and 2022.

In France, Smyths Toys FR Holding saw revenues surge by 168% to €273.86 million. However, this growth reflects the acquisition of Picwic Toys in mid-2022, which brought 41 stores and a website into the fold for €20.7 million. Smyths Toys invested €50 million to establish its French operations. In its first full year, the French division recorded a pre-tax profit of €5.1 million, with directors expressing satisfaction at its progress.

In Ireland, Smyths Toys Ltd reported pre-tax profits of €5.97 million on revenues of €287 million in 2023. The Irish operations, employing 739 staff, contributed €356 million in combined revenue for the Republic and Northern Ireland, representing 14% of the group’s total turnover.

The UK remains the group’s largest market, with Smyths Toys UK generating sales of £938 million (€1.12 billion) in 2023.