Krispy Kreme’s Irish revenues top €10m for first time
Donut producer plans to open stores in high-profile locations and expand its DFD (delivered fresh daily) business, run in conjunction with several retail partners
30 August 2023
Krispy Kreme is eyeing further expansion here in Ireland after the revenues of its Irish arm reached over €10m for the first time last year.
Expansion costs last year contributed to Krispy Kreme Ireland Ltd recording a pre-tax loss of €415,000. The prior year, the group had recorded a pre-tax profit of €1.16m.
The Irish Independent reports that new accounts show the firm’s revenues surged by 43% from €6.98m to €10.01m in the 12 months to the end of January 1 this year. This equates to an average weekly revenue of €192,634.
According to directors, the firm continued to grow its retail estate during the year and on 1 January 2023, operated 10 retail locations.
These include the Swords Pavilions Shopping Centre in north Dublin, Liffey Valley Shopping Centre, The Square Shopping Centre, Dundrum Town Centre and One Central Plaza, Dame Street in Dublin city centre, opened in August 2022.
Alongside 10 retail locations on 1 January, the company continues to grow access points through DFD (delivered fresh daily) in conjunction with several retail partners.
The directors said that in response to the Irish economy being hit with high inflation last year, they have locked in contracts for input price stability, improved employee pay and worked to reduce costs in overheads.
The company’s plans for 2023 are to open shops in high-profile locations and expand the DFD business.
Earnings before interest, tax, depreciation and amortisation (Ebitda) were recorded at €819,000, compared with €1.77m in the prior year. Meanwhile, Krispy Kreme’s number of employees rose from 73 to 154.