Caffe Nero Irish revenues soar on back of expansion

Revenues at the Irish arm of UK coffee shop chain Caffe Nero more than tripled to €2.1m last year as it expanded its presence here.

Last year, Caffe Nero Ireland opened a further three stores in Dublin as well as its first outside the capital; bringing its total number to eight. This contributed to revenues increasing by 210% to €2.132m in the 12 months to the end of last May.

The company also saw a 69% reduction in pre-tax losses for the year, to €138,000. In newly-filed accounts for the company, its directors said the losses arose “due to continued start-up costs in this new territory”.