Nespresso posts record Irish revenues as pandemic restrictions drive sales

Remote workers and “lockdown consumers” helped coffee retailer Nespresso rack up record Irish revenues last year.

New accounts filed by Nespresso UK Ltd show that Irish sales increased by £456,000 to a record £29.15 million (€33.99 million) in 2021, almost double what they were five years earlier.

Nestlé-owned Nespresso operates a number of boutique outlets here, including a flagship store on Dublin’s Duke Street, and the Irish business last year posted average weekly revenues of £560,711.

Sales were boosted by pandemic-enforced shutdowns of dine-in restaurants and cafes for part of the year.

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Directors said sales growth was boosted by “high demand from lockdown consumers and all those working from home” as well as increased brand awareness for Nespresso.

Despite the growth, directors said Covid-19 continued to be a challenge throughout 2021, though when the accounts were signed in May, the company said it continued “to maintain a strong position and performance financially”. Brexit continues to impact the business through “additional costs in the supply chain”, the company said.

Irish revenues make up 5.8 per cent of the overall UK and Irish revenues of £308.22 million. That was up about £20 million year on year.

Pretax profits increased 4 per cent to £12.2 million. The directors are recommending a final dividend of £9.8 million for 2021, up close to 13 per cent on the final dividend of £8.7 million in 2020.

Numbers employed across the UK and Irish operation fell by 13 per cent to 684 from 783 during the year, with staff costs coming in at £31.1 million.