Starbucks Ireland sees pre-tax profits halved

The coffee chain is still healthily in the black...

Starbucks Ireland sees pre-tax profits halved

Marco Pakoeningrat, Flickr

Starbucks Ireland enjoyed pre-tax profits of €1.14m in the 12 months to the end of July last.

While this was half the previous pre-tax figure of €2.13m, the 2014 spike can be attribute to an exceptional gain of €1.27m.

Gross profits were actually up 32% to €2.18m in the latest recorded figures.

Having first landed in Ireland with the opening of an outlet in Dundrum Town Centre in 2005, Starbucks now has over 50 premises in the greater Dublin area, as well as six outlets in Cork, two in Limerick and a presence in Drogheda, Dundalk, Athlone and Kildare Town.

It initially struggled to find a footing, posting successive losses between 2007 and 2010.

Accumulated losses are now down from €7.5m to €6.4m.

Starbucks' Irish operations are licensed to Colum and Ciaran Butler's Entertainment Enterprises Group.