Revenues at the 'foodie empire' being built by Greystones twins, David and Stephen Flynn last year increased by 22% to €9.96m.

New accounts filed by the twins' Flynn & Flynn Global Trade Ltd show that expansion costs last year resulted in post tax losses at the company last year increasing by 16% to €672,970.

Revenues had increased from €8.14m in 2017 to €9.96m last year.

Finance Director with the Happy Pear, Paul Murphy stated: "We would expect 2019 revenues to be broadly consistent with 2018. We have made strong improvements in profitability in 2019 and expect to be earnings positive for the year."

He stated: "The company embarked on a number of large scale projects in 2018 which continued in 2019, with lasting positive impact to the company's profitability, growth and environmental credentials."

Mr Murphy confirmed that last year, "the company delivered strong growth on top-line sales of 37% year-on-year in our Republic of Ireland Production & Distribution business driven predominantly by the successful launch of new products through both Musgrave and Independent stores channels". 

He stated: "The company also grew sales within the online courses channel by over 100%.

He stated: "Our 2018 losses were principally driven through investment in growth of the business and losses occurring in our export business in the U.K with Waitrose.

The business this year opened its first outlet at Dublin airport in partnership with HMSHost - the Happy Pear has three outer outlets - two in Greystones and one in Clondalkin.

Mr Murphy stated: "Our current focus is in respect of improving our existing sites and to continue to grow through our partners HMSHost and Compass Group Ireland."

The business today employs 121 people and also a Happy Pear branded food manufacturing and distribution business and a successful services business centred around the provision of corporate health & wellness talks and event offerings. 

The Happy Pear has released three best-selling cookbooks selling more than 250,000 copies while the Happy Pear has a huge social media presence with over 1 million followers across all platforms.

Five directors served last year and shared €336,994 in pay.

At the end of last year, the company had a shareholders' funds of €230,607. The company's cash pile reduced from €254,510 to €181,236.

At the end of last year, the business owed the directors a total of €114,578 in loans.

The loss last year takes account of non-cash depreciation costs of €200,177.