| 5.6°C Dublin

Food empire of 'million-pear' twins has record €10m revenue

Close

David and Stephen Flynn

David and Stephen Flynn

David and Stephen Flynn

The foodie empire being built by Greystones twins David and Stephen Flynn will enjoy record revenues of €10m this year.

Flynn & Flynn Global Trade's soaring earnings compare with just over €4m in 2015.

The costs of expanding the business contributed to the firm recording post-tax losses of €578,713 last year as revenues increased by 49pc to around €8m.

The foodies' Happy Pear business now employs 125 people.

Export

"Throughout 2017 we invested significantly in our business cap- abilities, which has enabled us to extend our food production and cafe business and support our further growth," said a spokeswoman.

"We expanded our food production and product portfolio and added the skills and systems to enable us to grow sustainably and to successfully operate in Ireland and in our fledgling export markets, mainly the UK.

"Today, as a result of this investment, we are well-placed for future growth."

The loss at the business - which started in 2004 as a small vegetable shop - coincided with it investing in the opening of a new cafe at Clondalkin Round Tower.

The spokeswoman said the business enjoyed a 49pc jump in revenues last year.

Of 2018, she added: "We have been performing in line with expectation. We have an estimated turnover of around €10m for 2018."

The spokeswoman said the business has "another number one best-selling cookbook and we're planning to offer additional online courses and events in 2019 to help people live happier and healthier lives".

It has more than 30 products for sale in shops, among them two new flavours of granola, the business's Bakes range, a vegan range in Waitrose & Partners stores and a new Bites range.

Outlets

The business operates three Happy Pear outlets - two in Greystones and one in Clondalkin - following the twins opening the new cafe and food store at the Round Tower, Bru Chronain, in the Dublin suburb.

It comprises retail, prod- uction and distribution of products, independent foodie stores and education, media and other events.

The new accounts show the firm's cash pile last year reduced from €1.33m to €254,510.

That loss resulted in the business's shareholder funds reducing from €1.48m to €903,577.

Please register or log in with Independent.ie for free access to this article

Already have an account?


Privacy