BHJ Holdings Ltd. has filed new consolidated accounts that indicate that despite a 32% rise in revenues, pre-tax earnings fell by 80% to €797,236 from €4.11 million, partly because of increased expenditures.

Employer Wage Subsidy Scheme (EWSS) payments of €3.2 million in 2021 compared to €424,728 in that category the previous year distorted the pre-tax profit of €4.11 million.

The company has a chain of coffee shops in Ireland and the UK, and its €37.32 million in income for the previous year above its €36.77 million for the year prior due to COVID-19.

“We are pleased with the group's performance in 2022 and will look to further grow the business in Ireland as well as abroad,” the directors declare.

The company's earnings suffered because of growing expenses brought on by inflation and rising energy prices; the group's cost base climbed by 36%, from €25.31 million to €34.43 million, faster than the percentage rate of revenue growth.