Iceland’s Irish revenue increases by 63%

Frozen food retailer reports turnover increase, with further expansion plans on the horizon

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Opening a total of nine new stores, frozen food retailer Iceland recorded a 63% increase in turnover at its Irish operation last year.

The Irish Times reports that for the 12 months ending 24 March this year, the group’s revenue stood at €49.2 million. By comparison, it stood at €30.1 million a year earlier and €21.7 million for the 12 months ending 25 March 2016.

Nevertheless, pretax losses for the year rose significantly from €364,00 to €694,000.

Currently, Iceland operates 23 outlets in Ireland and the group has previously said it plans to open up to 60 more stores here.

The company’s latest filed accounts also show it employed 369 people during the past year. This had jumped from 226 the previous year. Naturally, staff costs also increased significantly, from €3.9 million to  €6.4 million.

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