Keogh's Crisps bags €1m profits
Accumulated profits at Keogh's Crisps last year increased to €1.1m as the company continued its drive to be "the go-to luxury brand for crisps in a number of countries".
The accounts show that profits at Keogh's Crisps for 2016 totalled €67,548 - down sharply on the €381,479 profits for 2015 and the €212,027 profits in 2014.
Profits were not as high in 2016 due an investment programme at the company that saw it expand its production facility in order to keep up with increased demand for its products. The investment contributed to the value of the company's tangible assets more than doubling - going from €469,418 to €1m in 2016.
The investment also resulted in the company's cash pile reducing from €736,465 to €554,985.
The company last year expanded its product range along with rebranding its core range of flavours.
Staff numbers in 2016 increased from 23 to 28, with staff costs increasing from €921,300 to €948,935.
The company was only established in 2011 and its crisps are made from potatoes harvested from Keogh's 400-acre farm in north county Dublin. The vast bulk of sales are in Ireland but the company has been making inroads into the luxury crisp market in the United Arab Emirates (UAE), China, Germany, the UK and the US.
Five members of the Keogh family sit on the board. Tom Keogh is joined by Ross, Derek, Peter and Anthony.
No payments were made to directors in 2016 after the company received €150,000 in 2015.
The company's shareholder funds totalled €1.42m at the end of December 2016.