The company behind the Caffe Nero coffee shop chain expects to continue to open further locations under the brand here.
According to new accounts, Caffe Nero Ireland Ltd recorded a pre-tax profit of €353,000 for the 12 months to the end of May, 2018.
The company recorded a 34% drop in pretax profit as revenues increased by 36.5% from €3.65m to €4.99m.
The directors state that since the end of May 2018, Caffe Nero has opened a further two stores.
The company opened four sites in the 12 months to the end of May 2018 bringing to 12 sites operational at the end of May that year.
The directors state that they "believe there are strong growth prospects in the branded coffee bar market in Ireland".
They state that profit for the year "arose due to continued growth from store openings and a reduction in start up costs in this new territory".
The directors state that they target a range of 2% to 4% in like for like sales each year.
Numbers employed by the company increased from 60 to 76 in 2018 as staff costs went up from €1.19m to €1.67m.
The company recorded the profit after taking into account non-cash depreciation costs of €485,000 and operating lease costs increasing sharply from €492,000 to €802,000.
Accumulated profits at the end of May 2018 totalled €265,000. The company's cash funds reduced from €960,000 to €359,000.
