Coffee retailer, Nespresso last year enjoyed a post-Covid-19 sales boost as it brewed up record Irish revenues of €35.48m.
New accounts filed by Nespresso UK Ltd show that its Irish sales increased by 3.75% or £1.09m from £29.15m to a record £30.24m for the 12 months to the end of December last.
The Nestle-owned Nespresso operates a number of boutique outlets here, including a flagship store on Dublin's Duke Street and the Irish business last year translates to average weekly revenues of £581,711 (€678,161).
Sales across Ireland and the UK last year increased by 7% from £308.22m to £329.9m and the directors state that 2022 saw a continuation of growth in sales through a comeback post Covid.
Sales were also boosted by the launch of the new Vertuo Pop machine with its bright colours and compact size with a dynamic coffee range with various limited editions.
The directors state that the business "faced external challenges with increased commodity prices, inflation and customers having less disposable income".
Underlining the growth of Nespresso here, the sales last year of £30.24m were more than double Nespresso’s sales here in 2016 of £14.7m.
The directors state that pressure from commodity prices, inflation, "and the new normal post-Covid will continue to be challenges faced by the business".
The Irish revenues of £30m make up 9% of the overall UK and Irish revenues of £328.67 million.
The company's UK revenues last year increased by £20m to £299.67m.
The company’s pre-tax profits last year increased by 9.7 to £13.39m. The company recorded post tax profits of £11m after paying corporation tax of £2.36m.
The directors are recommending a final dividend of £11m for 2022 and this followed a final dividend of £9.8m in 2021.
The profit takes account of non-cash depreciation and impairment costs of tangible fixed assets of £8.76m.
Numbers employed across the UK and Irish operation increased from 684 to 692 and staff costs totalled £26.75m.
The Gatwick based company had accumulated profits of £11.33m at the end of December last.
Reporting by Gordon Deegan
