ITSA BAGEL, the food company owned by Domini and Peaches Kemp, is still in expansionary mode despite suffering at the hands of last winter’s weather.

In results just filed, the company said the winter weather of 2010 had a severe impact on its business, particularly the restaurant and catering divisions in what is traditionally their businest time of the year.

The good news is that despite the significant investent in new ventures – notably Browns cafe in Brown Thomas and Itsa in Malahide – the company remains lowly geared.

The Browns and Malahide ventures had little impact in terms of revenues in the figures just released as they were established towards the end of the company’s financial year, as was its success in securing the status as “caterer of choice” for weddings at Powerscourt Estate.

Despite a reported 2 per cent rise in turnover in the 12 months to the end of February last, the company saw pre-tax profits slip 60 per cent to €161,878 last year.

However, those figures include start-up costs for the new ventures which will hopefully deliver on the revenue side of the equation this year. The company directors point proudly to their success in expanding in the teeth of the worst economic crisis in modern times.

Itsa Bagel is also burnishing its “green” credentials by sourcing an Irish manufacturer of bagels, a factor the Kemps expect will also increase the growing company’s control of its food supply chain.

Tight control of costs is cited as a key focus of a business that directors report operates in a “highly competitive low margin environment”, especially in the face of “continuing falls in discretionary spending” by customers and rising food costs which the company says have continued “unabated” in the current financial year.

Still, the ever growing Itsa Bagel empire is clearly turning over a good living for the culinary sisters, with the four directors sharing remuneration of €367,172, with the bulk of that presumably going to the two Kemps.