Krispy Kreme Outlet In Dublin Suburb Of Blanchardstown Records Decrease In Pre-Tax Profits For 53 Week Period That Ended On January 3, 2021
The Krispy Kreme outlet in the Dublin suburb of Blanchardstown has recorded a decrease in pre-tax profits for the 53 week period that ended on January 3, 2021. As reported by The Irish Times, the Kri...
The Krispy Kreme outlet in the Dublin suburb of Blanchardstown has recorded a decrease in pre-tax profits for the 53 week period that ended on January 3, 2021.
As reported by The Irish Times, the Krispy Kreme outlet in the Dublin suburb of Blanchardstown recorded average weekly revenues of close to €87,000 last year in spite of the shop being temporarily shut down by COVID-19.
New accounts for Krispy Kreme Ireland Ltd reportedly show the business continued to make strong profits in spite of the pandemic impacting operations for 10 months of the year under review.
The accounts for the Dublin shop reportedly show pre-tax profits declined by 31.5% to €1.247 million for the 53 weeks to the end of January 3rd this year.
The drop in pre-tax profits reportedly followed revenues decreasing by 30% from €6.59 million to €4.6 million or an average weekly revenue of €86,924 across the 53 weeks.
The Blanchardstown shop shut down between March and May last year due to the pandemic and the company received €121,000 in temporary wage subsidy scheme payments.
The company currently has a planning application before Dublin City Council for signage concerning an outlet at Central Plaza on Dublin's Dame Street reportedly for opening "circa Christmas 2021 subject to planning permission being granted".
It is reportedly also planning to open a shop this winter at the Swords Pavilion Shopping Centre in north Dublin.
Last year, the company reportedly paid out a dividend of €1.66 million.
The company reportedly recorded a post-tax profit of €1.07 million last year after paying corporation tax of €175,000.
The company's earnings before interest, depreciation, tax and amortisation (EBITSA) reportedly last year totalled €1.76 million compared to €2.39 million in 2019.
Numbers employed in sales and manufacturing reportedly last year declined from 85 to 55.
On January 3 last, the company's accumulated profits reportedly stood at €1.44 million while its cash funds reportedly amounted to €817,000.
There was reportedly a queue of 300 people when the store opened its doors at 7am on its first day of operation in 2018, with the outlet reportedly suspending its 27/4 drive through operation soon afterwards as local residents complained of queues.
© 2021 Hospitality Ireland – your source for the latest industry news. Article by Conor Farrelly. Click subscribe to sign up for the Hospitality Ireland print edition.