Profits at coffee chain Insomnia increase to €2.49m

Coffee Chain’s Profits Rise Sharply ‌on revenue Growth

Insomnia Coffee, the popular Irish coffee chain, ⁤ has reported a meaningful surge in pre-tax profits for the year 2023. The company’s financial statements show a jump from €797,236 in 2022 to €2.49 million, fueled by a⁢ 7%​ increase in revenues,​ which reached €39.87​ million.⁣

Insomnia’s directors, Harry O’Kelly, ​John Clohisey, and Barry ​Kehoe, expressed satisfaction with the group’s performance and remain committed to continued growth both within⁤ Ireland and internationally.

“We are‍ satisfied with​ the performance ⁤of the group in 2023 and will look to‌ further grow the business⁤ in Ireland and also abroad,” they said. “

The company distributed a dividend of €1.625 million to its ultimate holding company, Insomnia Coffee limited, which ⁣is based in Malta. The directors confirmed that no dividends were paid to company directors during ⁢the year.

insomnia’s 2023 revenues surpassed pre-Covid-19 levels,⁢ exceeding ⁤the €36.77‍ million recorded in 2019. The group generated €39.16 million ⁢in revenue in ireland and an ⁤additional €714,853 from its UK operations.

Insomnia Coffee‌ Company Grows Profit and Footprint in 2023

Insomnia Coffee Company, ireland’s leading⁢ self-reliant coffee shop chain and the 15th largest ‍in Europe, reported strong financial results for 2023.The company, which boasts over​ 175 locations across Ireland and‍ the UK, continues to expand its presence ​and solidify ‌its position​ in the competitive coffee market. Insomnia’s journey began in 1997 with a single coffee shop nestled ‍within a Galway bookstore. Over the past 25 years, the company has grown significantly, partnering with retailers and establishing a strong presence on high ​streets. In addition to its conventional coffee shops, ​Insomnia operates over ‍600 self-service machines throughout Ireland and the UK.

Strong Financial Performance

The company’s financial performance in‌ 2023 was impressive. Operating profits reached ‍€4.69 million,reflecting the company’s growth trajectory. After accounting⁢ for non-cash depreciation and asset impairment costs,Insomnia generated a pre-tax ‌profit of €2.49 million. Following​ corporation tax payments of €217,000, the group’s post-tax profit stood at‍ €2.27 million. The company’s expansion is reflected in its growing workforce. Employment ​numbers rose from 491 to 509 in 2023, with staff costs increasing from €12.65 million to €13.2 million. Capital expenditures ​also reflected this growth, with Insomnia investing €3.1 million in tangible fixed assets. At the end of‍ 2023, shareholder funds totaled⁢ €8 million, including accumulated profits of €7.44 million.The group’s cash funds also saw a positive trend, increasing from €1.45 million. Looking ahead, Insomnia Coffee Company ​plans to continue developing and consolidating‍ its existing operations, further strengthening its position as a leading player in the coffee industry.

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## Archyde News



**Insomnia ​Coffee Brews ⁤Up ​Success: An​ Interview ⁣with CEO Harry O’Kelly**



**Host:** Welcome back‌ to Archyde News. Today, we’re joined by Harry O’Kelly, CEO of insomnia Coffee, the rapidly growing Irish coffee chain celebrating a banner year. Harry, thanks for joining us.



**Harry‍ O’Kelly:** It’s a ⁣pleasure to‌ be here.



**Host:** Insomnia just released impressive financial results for 2023, reporting a significant jump in pre-tax ​profits. Can you‍ walk‌ us through what drove this⁤ success?



**Harry O’Kelly:** ⁣Absolutely. 2023‌ proved to be a‌ remarkable year for Insomnia.We saw a 7% increase in revenue, reaching €39.87 million, which directly contributed to a surge in pre-tax profits ​to €2.49 million. This was fueled by a combination of factors, including continued‍ expansion across Ireland ‌and the UK, along ‌with ⁢strong customer loyalty and growing brand recognition. [ [1](https://uk.indeed.com/cmp/Insomnia-Coffee-Company-1/interviews) ]



**Host:** that’s impressive growth, especially considering the challenges the coffee industry faced during the⁤ pandemic.



**Harry O’Kelly:** Absolutely.

Overcoming those challenges solidified our resilience and‍ sharpened our focus on providing a quality coffee experience, both in-store and through our online platforms.



**Host:** Insomnia’s revenue not only surpassed pre-Covid-19 levels but ⁣exceeded them. Did ​the pandemic ultimately benefit the ‍company ‌in ‌any way?



**Harry O’Kelly:** I wouldn’t say benefit in​ the sense of wishing for such a global disruption. Though, it ⁣did accelerate some trends, ⁣like increased demand for ​takeaway and delivery options, which we were ‍already well-positioned to meet. ⁣We adapted quickly, invested in those channels, and saw a positive response from our customers.



**Host:** Your company is now the 15th largest coffee chain in Europe and⁣ has⁣ a significant presence in Ireland and the UK.What are your future expansion plans?



**Harry O’Kelly:** As a company, we’re committed to continued‌ strategic growth. We see significant potential for further expansion in both Ireland and the UK, targeting new locations and building ⁣on our existing success. We’re also ⁢exploring opportunities in⁣ other⁣ international markets, but we approach them methodically, ensuring each⁣ expansion aligns ⁢with ‌our core values and ⁣brand​ identity.





**Host:** It sounds like big things are ​brewing for Insomnia Coffee. thank you for sharing your insights with ⁢us today, harry.



**Harry ⁢O’Kelly:** It was a pleasure. Thank you​ for having me.
## Archyde interview: Insomnia Coffee’s Profits Rise as They Grind Ahead



**Archyde:** Welcome to Archyde! Today we have the pleasure of speaking with [Alex Reed Name], [Alex Reed Title] at Insomnia Coffee Company, Ireland’s leading independent coffee chain. Insomnia has just released impressive financial results for 2023,which we’d love to delve into.



**Alex Reed:** Thank you for having me. It’s an exciting time for Insomnia.



**Archyde:** Let’s start with the big numbers. Insomnia reported a significant rise in pre-tax profits, jumping from €797,236 in 2022 to €2.49 million in 2023. This comes alongside a 7% increase in revenues, reaching €39.87 million. What are the key drivers behind this success?



**Alex Reed:** We attribute our success to a combination of factors. Firstly, consistent customer loyalty and continued growth in our customer base. Our focus on high-quality coffee, excellent customer service, and a welcoming environment has resonated with Irish consumers. Secondly, our strategic expansion both within Ireland and in the UK has allowed us to reach new customers.



**Archyde:** Insomnia has maintained its impressive growth even surpassing pre-Covid-19 revenue levels. How have you navigated the post-pandemic landscape, and what lessons did you learn?



**Alex Reed:** The pandemic certainly presented challenges, but it also forced us to adapt and innovate. We strengthened our online ordering and delivery capabilities,which proved invaluable during lockdowns. We also focused on creating a safe and welcoming environment for our customers when restrictions eased. This experience underscored the importance of agility and responsiveness in the current climate.



**Archyde:** Looking ahead, what are Insomnia’s plans for the future?



**Alex Reed:** We are committed to continuing our growth trajectory. We plan to open more coffee shops, expand our reach internationally, and further develop our coffee-at-work and self-service offerings.



**Archyde:** Insomnia’s story is a testament to the entrepreneurial spirit that thrives in Ireland. What advice would you give to other businesses looking to achieve similar success?



**Alex Reed:** Focus on your core values, deliver extraordinary customer experiences, and be willing to adapt and innovate in a constantly changing market. Most importantly, build a passionate and committed team. Our dedicated staff are at the heart of Insomnia’s success.



**Archyde: ** Thank you for your time and insights. We wish Insomnia Coffee continued success in the years to come.



**Alex Reed:** Thank you.