Krispy Kreme still rolling in dough...
BUT PROFITS FALL IN PANDEMIC
THE Krispy Kreme outlet in Blanchardstown recorded average weekly revenues of almost €87,000 last year in spite of the store being temporarily shut down by the COVID-19 pandemic.
That is according to new accounts for Krispy Kreme Ireland Ltd which show that 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 record breaking doughnut selling store show that pre-tax profits declined by 31.5 per cent to €1.2 million for the 53 weeks to the end of January 3 this year.
The drop in pre-tax profits followed revenues decreasing by 30 per cent from €6.59m to €4.6m or an average weekly revenue of €86,924 across the 53 weeks.
Shut
The Blanchardstown store shut down between March and May last year in line with Government restrictions aimed at halting the spread of COVID-19 and the company received €121,000 in Temporary Wage Subsidy Scheme ( TWSS) payments.
According to the directors, the business was able to re- open in May 2020 and despite being impacted by the pandemic during the year the business “has remained profitable in 2020 and is able to look forward to a future of investment and growth”.
The company currently has a planning application before Dublin City Council for signage concerning an outlet at Central Plaza on Dublin’s Dame Street for opening “circa Christmas 2021 subject to planning permission being granted”.
The company is also planning to open a store this winter at the Swords Pavilion Shopping Centre in north Dublin.