Tuesday 20 August 2019

Airport caterer's profits slip despite passenger growth

Gate Gourmet Ireland’s main business is food manufacturing and in-flight catering facilities at the capital’s airport. Photo: PETER MUHLY/AFP/Getty Images
Gate Gourmet Ireland’s main business is food manufacturing and in-flight catering facilities at the capital’s airport. Photo: PETER MUHLY/AFP/Getty Images
Donal O'Donovan

Donal O'Donovan

Sales and profits dipped at airport catering firm Gate Gourmet last year, despite a record 31.5 million passengers passing through Dublin Airport during 2018.

Gate Gourmet Ireland's main business is food manufacturing and in-flight catering facilities at the capital's airport.

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Pre-tax profits in the year to the end of December 2018 were €1.112m, down from €1.384m a year earlier.

Revenues at Gate Gourmet Ireland slipped slightly - to €20.512m from €20.59m. The directors' report stated that "the company continued to perform well in 2018".

The report added: "We are constantly seeking new opportunities and the directors hope to further expand the business in the foreseeable future and anticipate continued profitability in the coming year."

A new unit in Dublin is planned for completion in 2020, the accounts said.

The company's balance sheet show accumulated profits of just over €3m.

Shareholder funds increased to €7.6m.

Irish Independent

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