The firm behind the Insomnia chain of coffee shops brewed up pretax profits of €2.67 million last year as the company eyes expansion in the UK where revenues have been falling in recent years.

Consolidated accounts filed by BHJ Holdings Ltd show that pretax profits increased by 7 per cent as revenues rose by 8 per cent to €43.09 million.

The directors, Harry O’Kelly, John Clohisey and Barry Kehoe, state that they are satisfied with the performance of the group in 2024 “and will look to further grow the business in Ireland as well as abroad”.

“We are actively seeking owned store locations in the UK at present and plan to build that estate to 20 stores by the end of 2029,” they said.

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The group operates a chain of coffee outlets here and in the UK. Ireland accounts for the vast majority of the group’s business with sales here increasing by 8.5 per cent last year €42.52 million. UK turnover was down again, by 20 per cent, to €574,063.

The company paid no dividend last year. In 2023, it paid a dividend of €1.625 million to the group’s ultimate holding company, Insomnia Coffee Limited, which is incorporated in Malta.

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Insomnia has grown from a single location in Eason’s Galway bookstore in 1997 to a chain of more than 175 coffee shops throughout Ireland and the UK, both stand-alone high street stores and in partnership with retailers such as Spar, Eurospar, Londis, Mace, Central England Co-op, Eason, Meadows & Byrne and Maxol. The company also operates more than 600 self service machines.

Operating profits at the business increased by 5.5 per cent last year to €4.95 million before combined non-cash depreciation and amortisation of €2.02 million and non-cash impairment of fixed assets of €215,262. The company benefited from lower interest charges – down to €46,441 from €251,834 the previous year and from €1.09 million in 2022.

Numbers employed across the group inched up to 512, three more than the previous year while staff costs increased by 15 per cent to €15.23 million.

Shareholder funds at the end of 2024 totalled €10.17 million, a figure that includes accumulated profits of €9.6 million.