Itsa food outlets group posts operating profits

The network of food businesses, including Itsa outlets, operated by celebrity food writer Domini Kemp posted operating profits “well in excess of €200,000” last year.
Itsa food outlets group posts operating profits

In an interview yesterday, Ms Kemp said that the businesses made “serious progress since 2013” and that she was happy about their performance.

Ms Kemp was commenting on new accounts for the Itsa Bagel Ltd firm which showed that accumulated losses at the company increased by €58,635 to €186,307.

The losses take account of non-cash depreciation costs and interest payments. Ms Kemp said: “Expansion costs and depreciation are the main reason for the small loss”, adding that the business was shifting away from the original Itsa brand to include development of Alchemy Juice, Hatch & Sons and Joe’s Coffee.

It also operates Joe’s Coffee outlets at Arnotts in Dublin and in Kildare Village and has outlets at the Irish Museum of Modern Art, the National Gallery of Ireland and the Hugh Lane Gallery, as well as Hatch & Sons at the Little Museum of Dublin.

It also caters events at the Powerscourt Estate and at other venues. The firm employs around 100 across 14 outlets. Staff costs totalled €2.55m last year.

On the outlook for this year, Ms Kemp said that two new wholesale contracts last summer had helped boost revenues and the business had returned to profit despite increased costs for insurance, rents, and electricity.

Ms Kemp said: “We closed branches in Ranelagh and Malahide which were under-performing.

“We have created new brands and investment was required for the new premises and both brands: Joe’s and Alchemy.”

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