Thursday 19 September 2019

Airport food firm serves up a tasty return

The food court in Terminal 2 at Dublin Airport
The food court in Terminal 2 at Dublin Airport

Gordon Deegan

The operator of food and beverage services at Dublin, Cork and Shannon airports returned to profit last year.

Accounts recently filed with the Companies' Office by the Cork-based HMS Host Ireland Ltd show that the company recorded a pre-tax profit of €535,412 and this followed a pre-tax loss of €301,250 in 2012 - a positive swing of €836,662.

The return to profit came in spite of revenues decreasing from €17.42m to €17m.

The filings confirm that the company exited from its Dublin Terminal 1 units in 2012 with the exception of one remaining unit and in 2013, the company had its first full year of operations in Dublin's T2.

Numbers employed by the firm increased from 227 to 228 last year.

According to the directors' report "the directors are focused on improving the performance of the company and as such expect an improvement in profitability in the near future".

Accumulated losses at the Irish subsidiary of HMSHost last year reduced from €13.41 million to €12.87m.

However, the accounts show that the company had shareholder funds of €721,484 after a called-up share capital of €13.6m.

The filings show that the company's cost of sales decreased from €8.94m to €8.79m.

The accounts show that the company recorded an operating profit of €412,603 compared to an operating loss of €231,528 in 2012.

Irish Independent

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