Starbucks' Profits Rise In Ireland
Published on Feb 26 2014 4:55 PM in General Industry
The Irish arm of American coffee giant Starbucks filled accounts this week showing a 47% increase in net profits in 2012.
Accounts just filed by Ritea Ltd (Starbucks Coffee Company Ireland) show it increased operating profits 40% to €801,416, from €570,450. Gross profit increased by 4% from €2.41 million to €2.49 million in the 12 months to 30 September 2012.
Both the Irish Independent and Irish Examiner newspapers report that the US firm paid no corporation tax in Ireland during 2012.
In 2011, Starbucks Coffee Company (Ireland) paid corporation tax of €34,980 — its only corporation tax paid since 2005. In that six- year period, it paid €5.7 million in royalty and licensing fees to its parent firm.