Java Republic's profits heat up to €192,000
Java Republic, the coffee roasting business founded in 1999 by former Campbell Bewley employee David McKernan, brewed up a pre-tax profit of €192,000 last year, reversing a €57,000 loss it recorded in 2008.
Accounts for the company, which has its roasting operation in Dublin, show that the firm made a gross profit of €3.9m last year, up slightly from €3.8m in 2008, while operating profit soared to €303,000 from €31,000. Administrative expenses were reduced to €3.66m from almost €3.8m a year earlier.
The company incurred charges of €144,000 for exceptional items last year, on top of €110,000 in 2008.
Directors' pay at the firm jumped to €406,000 last year from €357,000.
Mr McKernan has been heavily involved in philanthropic ventures in Ethiopia over the past few years, working on a project with other donors to deliver a fresh water project in one of the country's coffee producing regions.