Dublin luxury crisp maker Keogh's racks up tasty €1m profit
The family-owned firm has been producing potatoes for over 200 years.
ACCUMULATED PROFITS AT Dublin-based luxury crisp maker Keogh’s tipped over €1 million at the end of 2015, as the company continued to expand.
According to new accounts just filed for Keoghs Crisps Limited show that the firm made a profit of just over €380,000 in the 12 months to the end of 2015.
This was nearly double what the company reported the year before. In the 12 months to the end of 2014, Keogh’s made a profit of almost €212,000.
This helped to push accumulated profits to €1.04 million, as the business continued to perform steadily.
Keogh’s Crisps has been profitable since it was incorporated in 2011, even during the recession years.
Profits
The company was set up by the Keoghs, a potato farming family in north county Dublin which claims to have been producing potatoes for over 200 years.
Set up in 2011, the family’s crisp business produces snacks in several slightly unusual flavours, such as chilli and red pepper, although it also makes staples like cheese and onion.
Keogh's general manager Tom keogh
Since 2011 it has recorded steady profits, although there was a noticeable spike last year as the firm expanded.
During 2015 the number of people employed by the firm rose from 17 to 23, which resulted in a rise in staff costs from €731,615 to €921,300. Director’s remuniration fell from €211,607 to €150,000.
Cash at bank and in hand, or the amount of cash that the company can easily spend at short notice, rose from just under half a million euro to €736,465.
Market share
During 2015 Keogh’s secured 30% of the luxury crisp market in Ireland, and 5% of the crisp market overall.
The firm exports to more than a dozen countries, and sells as far abroad as Dubai in the Middle East.
The company is family-owned, and its main shareholders include Peter Keogh, Anthony Keogh, Derek Keogh, Thomas Keogh, and Ross Keogh. The five Keoghs are also all listed as company directors.
