Jelly Bean Factory sales on the up as company plans for growth

The Dublin-based quality sweet maker that produces 14m jelly beans a day last year recorded a big jump in revenues, but posted a fall in pre-tax profits.

Accounts filed by Aran Candy Ltd, trading as the Jelly Bean Factory brand, show that profits after-tax last year increased 2% to €2.39m from €2.35m in 2013.

Pre-tax profits however fell to €2.59m from €2.63m, and it paid out less in corporation tax as a result. Revenues surged 9% to €12.81m from €11.74m.

Last year, Scandinavian confectionery firm Cloetta bought Aran Candy for €15.5m in cash.

Aran Candy was established by the father and son team of Peter and Richard Cullen, in 1998, after they identified an opportunity in the European confectionery market for an American-style high-quality jelly bean.

The firm exports more than 98% of its production to 60 export markets around the globe, including the US and Canada, Saudi Arabia, the United Arab Emirates, and South Korea. Its main market, however, is the UK.

Numbers employed by the firm at Blanchardstown in Dublin jumped in the year to 90 from 75.

Speaking yesterday, managing director Richard Cullen said that the current year is also driving “good growth” and “is contributing to earnings targets”.

The company has exciting plans for growth, he said.

Staff costs in the year increased by more than €530,000, to €2.937m from €2.39m, while directors’ pay increased to €678,307 from €536,655.

Accumulated profits rose to €7.27m from €4.88m, and shareholder funds totalled €8.24m. During the year, the firm’s cash dropped to €892,063 from €1.77m.

Five people sat on the board last year. They are named as Richard Cullen, Triona Byrne, Ewaldus Frenay, Danko Maras, and Bengt Baron.