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Irish jelly bean firm's sweet profit rise

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Jelly Bean factory

Jelly Bean factory

Jelly Bean factory

The operators of Dublin-based gourmet jelly bean maker Aran Candy last year enjoyed the sweet smell of success with profits more than doubling to €2.27m.

Earlier this year, Scandinavian confectionery firm Cloetta acquired Aran Candy, owner of the Jelly Bean Factory brand, for €15.5m in cash.

Aran Candy was established by father and son Peter and Richard Cullen in 1998.

The firm produces and sells gourmet jelly beans with the company exporting over 96pc of its production to 55 export markets worldwide.

Producing 12 million jelly beans a day, the company has between 10 to 15 core customers in Ireland, and a further 120 clients abroad.

New accounts show that the firm's pre-tax profits last year rose 127pc to €2.27m.

The company's owners shared a dividend of €500,000 last year prior to this year's sale.

The firm employs at its facility in Blanchardstown with staff costs last year totalling €2.39m.

The firm achieved the doubling in pre-tax profit after its gross profit rose 21pc to €4.72m.

Accumulated profits at the end of December last stood at €4.5m with shareholder funds totalling €5.4m.

The firm's cash increased from €226,970 to €1.77m.

The profit last year takes account of depreciation costs of €376,000.

Irish Independent