Updated financial records show growth expenses played a part in Krispy Kreme Ireland Ltd.'s pre-tax loss of €415,000 last year, which followed a pre-tax profit of €1.16 million the year before.

The reports reveal that the company's sales increased by 43%, from €6.98 million to €10.01 million, or an average weekly revenue of €192,634, in the 12 months leading up to the end of January 1st this year.

According to its directors, the company continued to expand its retail estate throughout the year, and as of January 1st, this year, it operated 10 retail sites.

The Swords Pavilions Shopping Centre in north Dublin, Liffey Valley Shopping Centre, The Square Shopping Centre, Dundrum Town Centre, and One Central Plaza on Dame Street in Dublin, which opened in August 2022, are just a few of the retail outlets for the doughnut producer in this country.

Credits: Unsplash; Author: @anniespratt;

Following the establishment of its record-breaking doughnut-selling outlet in Blanchardstown in September 2018, the company has gradually grown despite Covid-19's effects.

Regarding the business's performance in the year under review, the directors stated that “the company began 2022 with a clear growth agenda and has during the year grown despite a challenging economic market environment with significant cost pressures in all input cost lines.”

The firm continues to anticipate a future of constant investment and expansion as it further lays down roots in the market, the directors say.