One4All Gift Card Company Pays €30M Dividend
- Here's a breakdown of the key information from the provided text about GVS Gift Voucher Shop DAC and its parent company, TSC Ventures DAC:
- * Business: Sells physical and digital gift cards redeemable at over 60,000 locations in Ireland and the UK.
- * Combined Revenue (GVS in Ireland & UK): €79.58 million in 2024.
Here’s a breakdown of the key information from the provided text about GVS Gift Voucher Shop DAC and its parent company, TSC Ventures DAC:
GVS Gift Voucher Shop DAC (The Gift Card Company):
* Business: Sells physical and digital gift cards redeemable at over 60,000 locations in Ireland and the UK. Distribution partners include An Post, Tesco, and Dealz.
* Tax Charge: Faced a tax charge of €900,060.
* Dividend Payout: Paid €70 million in dividends to its parent company, TSC ventures DAC.
* Director Confidence: Directors are confident in future growth and believe systems are in place to support it.
TSC Ventures DAC (Parent Company):
* Combined Revenue (GVS in Ireland & UK): €79.58 million in 2024.
* Pre-Tax Profits: €31.27 million, including €13.98 million from finance and similar income.
* Revenue Sources:
* Other Income (Largest Portion): €41.34 million – This includes fees from card administration (like inactive balance charges) and issuance fees.
* Inactive Balance Charge: A monthly fee of €1.45 is charged after 18 months of card inactivity, continuing until the balance reaches zero.
In essence, the text details a profitable gift card business model that relies not only on card sales but also on fees generated from card administration, especially inactive balance charges.