Breaking News: Irish athleisure brand Gym+Coffee has returned to profit after a difficult stretch marked by expansion costs, rising overheads and heavy losses. Fresh accounts show the business, backed by Brian O’Driscoll and Niall Horan, posted pre-tax profits of €749,468 for the year to June 30th, 2025, offering one of the more notable Business News Ireland updates in recent months.
The latest filings indicate that revenue growth, tighter cost control and stronger UK trading helped drive the recovery. For readers tracking Ireland News, Irish Economy trends and consumer-facing retail brands, the results point to a business that has stabilised after an expensive push into a larger market.
Latest News Ireland: What happened at Gym+Coffee?
New consolidated accounts for Gym Plus Coffee Ltd show group revenue climbed from €14.76 million to €18.69 million in the 12 months to the end of June 2025. That 27 per cent rise was enough to help the company swing back into the black, reporting pre-tax profits of €749,468 after recording significant losses in prior periods.
The return to profit followed:
- a loss of €3.04 million in the 12 months to June 2024
- a loss of €11.99 million in the 18 months to June 2023
- major investment in UK expansion, store openings and marketing
- a wider transformation strategy focused on margin improvement and overhead reduction
Directors said the 2025 performance reflected the culmination of a multi-year turnaround plan. They linked the improved outcome to stricter cost discipline, a refined product range and continued expansion in the UK, especially through online sales and wholesale.
Why the Irish brand moved back into profit
The accounts suggest Gym+Coffee’s recovery was not driven by a single factor. Instead, the business appears to have improved across several areas at once, which is often a stronger signal for long-term retail stability.
Sales growth in Ireland and the UK
Irish revenue rose by 9 per cent from €11.9 million to €12.95 million. The bigger jump came in Britain, where revenue doubled from €2.86 million to €5.73 million. That matters because the UK expansion had previously weighed heavily on profits.
For those following Latest Irish News and Top Stories Ireland in the retail and consumer space, the UK performance is arguably the key figure in the new accounts. It suggests the costs of entering that market may now be starting to pay off.
Improved margins and lower overhead pressure
The directors said the company achieved a €3.8 million turnaround through better margins and lower overheads. In practical terms, that usually means selling more product at stronger profitability while keeping tighter control over operating expenses.
The company also said its product offering was redefined during the period, which may have supported stronger trading without relying solely on discounting or pure volume growth.
Workforce changes
Employment at the business has fallen from a peak of 180 at the end of June 2023 to 107 by the end of June 2025, a drop of roughly 40 per cent. Staff numbers edged down from 112 to 107 during the latest year, although staff costs still increased from €3.6 million to €4.08 million.
That reduction in headcount forms part of the wider reset that brought the company back to profit. While the accounts do not break down every operational change, the numbers show a leaner organisation than the one that existed at the height of the expansion drive.
Background: why losses had built up
The newly filed overdue accounts for earlier periods provide important context. Directors said the large 2023 loss was mainly tied to expansion costs as the company accelerated its UK strategy with new store openings and a substantial marketing spend.
They also pointed to one-off costs linked to a successful Series A fundraising round. That helps explain why the earlier losses were so severe even though the brand had investor support and revenue momentum.
The 2023 figures covered an 18-month period rather than a standard 12 months, which the directors said exaggerated the scale of the loss because it included four quarters of seasonally weaker trading.
In Ireland News terms, this is a familiar pattern for growth-stage consumer brands: spend heavily to win market share, absorb the losses, then try to convert scale into sustainable profitability.
Funding, tax position and balance sheet details
The company said it remains well funded. Directors noted that Gym+Coffee raised €12.8 million from CastleGate Investments and €500,000 from West Ventures in 2022. High-profile backers including Brian O’Driscoll and Niall Horan remain closely associated with the brand.
Other notable figures from the 2025 accounts include:
- cash funds increased from €5.06 million to €5.4 million
- shareholder funds stood at €94,959 at the end of June 2025
- accumulated losses totalled €13.93 million, offset by a share premium account of €14.03 million
- directors’ pay rose from €305,916 to €481,479
The accounts also refer to a VAT repayment arrangement with Revenue. From May 1st, 2024, the company agreed a repayment plan for warehoused tax liabilities. Under that agreement, equal monthly payments of €16,347 are to be made over eight years, amounting to about €1.56 million in total, with 0 per cent interest.
That detail will interest readers following Irish Economy coverage, Business News Ireland and broader consumer market conditions, as it shows how businesses are still working through legacy tax pressures from earlier trading periods.
What happens next for Gym+Coffee?
Directors said trading through the most recent financial year to June 30th, 2026, has remained encouraging. They said they are pleased with the momentum in the business and expect further growth in revenue and profitability in FY26.
The group’s stated strategy is to increase top-line revenue across its existing markets in a profitable and sustainable way. That wording matters. It suggests the focus is no longer simply on rapid expansion, but on making growth pay.
For readers asking What’s Happening in Ireland in retail, the next phase to watch is whether the company can keep improving profits while holding onto brand appeal in a crowded athleisure market.
Why this matters in Ireland Today
This Breaking News Ireland story matters beyond one fashion label. Gym+Coffee has become one of the more visible homegrown consumer brands of the past decade, and its performance offers a useful snapshot of how Irish retail businesses are managing expansion, financing and cost pressures.
It also underlines a broader point in Latest News: growth alone is not enough. Investors and consumers alike are now watching for resilience, margin strength and disciplined execution. Gym+Coffee’s latest accounts suggest the company has made meaningful progress on all three.
Frequently Asked Questions
Did Gym+Coffee make a profit in 2025?
Yes. The company reported pre-tax profits of €749,468 for the year ended June 30th, 2025.
Why did Gym+Coffee lose money before returning to profit?
Directors said earlier losses were driven by UK expansion costs, store openings, marketing spend and one-off fundraising costs.
How much did revenue grow?
Group revenue rose 27 per cent, increasing from €14.76 million to €18.69 million.
Is the business still expanding?
The company said it is focused on growing revenue across existing markets in a profitable and sustainable manner, with continued momentum expected in FY26.
Conclusion
In this Breaking News update, Gym+Coffee’s return to profit marks a clear shift from costly expansion to more disciplined growth. The 2025 accounts show stronger sales, a better UK contribution and a business that appears more stable than it was two years ago. For anyone following Ireland News, Irish business trends or the future of fast-growing retail brands, the next question is whether Gym+Coffee can turn this recovery into lasting profitability.
