Insomnia brews up €2.67m in profit while revenues surge past €43m

The independent coffee shop chain has grown from a single location in a Galway bookstore in 1997 to over 175 coffee shops throughout Ireland and Britain

The company paid no dividend last year, after paying out a dividend of €1.625m during 2023. Picture: Gareth Chaney/Collins

The firm behind the Insomnia chain of coffee shops last year brewed up pre-tax profits of €2.67m as the company eyes further expansion in Britain.

Consolidated accounts filed by BHJ Holdings Ltd show that pre-tax profits increased by 7%, from €2.49m to €2.67m, as revenues rose from €39.87m to €43.09m.

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”.

They said: “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”.

The group operates a chain of coffee outlets in Ireland and Britain, and Irish revenues increased by 8.5%, from €39.16m to €42.52m, while British revenues declined from €714,853 to €574,063.

On the company’s future developments, the directors state that the group plans to further develop and consolidate its existing activities in the coming year. The company paid no dividend last year, after paying out a dividend of €1.625m during 2023.

The directors state that the 2023 dividend was paid to the ultimate holding company, Insomnia Coffee Limited, which is a company incorporated in Malta. The directors state that “no dividends were paid to directors by any group company during the year”.

Partnerships and self-service

Insomnia Coffee Company is the country's leading independent coffee shop chain.

Celebrating 28 years in business, Insomnia has grown from a single location in a Galway bookstore in 1997 to over 175 coffee shops throughout Ireland and Britain — both on the high street and in partnership with retailers such as Spar, Eurospar, Londis, Mace, Central England Co-op, Easons, Meadows & Byrne, and Maxol.

The company also has over 600 self-service machines in operation in Ireland and Britain.

The group’s operating profits increased by 5.5%, from €4.69m to €4.95m, before combined non-cash depreciation and amortisation of €2.02m and non-cash impairment of fixed assets of €215,262.

The group made a pre-tax profit of €2.67m after paying interest charges of €46,441, which was show sharply on the interest charges of €251,834 in 2023.

The group had a post-tax profit of €2.15m after paying corporation tax of €514,335. Numbers employed rose from 509 to 512, and staff costs increased from €13.2m to €15.23m.

The company continued to expand in 2024, paying out €3.4m for the purchase of tangible fixed assets. The group recorded receivable grant income of €721,200.

Shareholder funds at the end of 2024 totalled €10.17m, including accumulated profits of €9.6m. The group's cash funds remained at €3.2m.