Jelly bean company enjoys sweet success
Published 11/11/2015 | 02:30
The Dublin-based gourmet sweetmaker that produced 14 million jelly beans a day last year has recorded increased revenues and profits.
New accounts just filed by Aran Candy Ltd, trading as the Jelly Bean Factory brand, show that profits last year increased by 2pc to €2.39m
This followed revenues increasing by 9pc to €12.81m.
Last year, Scandinavian confectionery firm Cloetta acquired Aran Candy for €15.5m in cash.
Aran Candy was established by father and son Peter and Richard Cullen in 1998.
The firm exports 98pc of its production to 60 markets around the globe with its main market in the UK.
It also exports to the US, Canada, Saudi Arabia, the United Arab Emirates (UAE) and South Korea.
Numbers employed by the firm at its facility in Blanchardstown, Co Dublin, have increased by 20pc in the past year from 75 to 90.
Managing director of the firm, Richard Cullen, said: "This year we have had good growth and continue to contribute to the group's earnings targets."
Mr Cullen said that the firm "has very exciting plans for more growth out of Dublin".
Accumulated profits last year increased from €4.88m to €7.27m. The firm's shareholder funds totalled €8.24m.
During the year, the firm's cash reduced from €1.77m to €892,063. The profit last year takes account of non-cash depreciation costs of €398,063.Staff costs increased from €2.39m to €2.937m.
Directors are listed as Richard Cullen, Triona Byrne, Ewaldus Frenay, Danko Maras and Bengt Baron and directors' pay last year increased from €536,655 to €678,307.