Cafedirect brews up €6m sales
Cafedirect, which sells branded Fairtrade coffee and tea, made a profit of €941,000 in Ireland in the year to the end of last September, up substantially on the €64,000 generated in 2006.
The company said that Irish sales rose to €6.1m in the period, a 33pc increase on 2006. It added that sales in Ireland now account for 20pc of UK-based Cafedirect's total revenues.
Founded in 1991 by organisations including Oxfam, Cafedirect aims to give coffee bean, cocoa and tea growers a larger slice of the purchase price for the products.
Total turnover at Cafedirect grew by 3pc to €29.8m in the last financial period, with its net cash balance rising to €4.1m from €1.7m.
It said that sales in Ireland were boosted by increased penetration into the business, restaurant and cafe sectors. Cafedirect is also commencing a new advertising campaign in the UK at the end of this month in an effort to boost sales.
The company reinvests about 60pc of its profits into grower training and development programmes.