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Costa firm enjoys profit of €11.4m


Pre-tax profits at the expanding firm behind Costa Coffee and a string of KFC franchises here increased by 37pc to €11.44m last year.

New accounts filed by MBCC Foods (Ireland) Ltd show that revenues increased by 10pc from €85.66m to €94.2m in the 12 months to the end of January last.

A breakdown of the company's revenues show that €70m was recorded here and €24.18m in the UK.

The directors said that during the financial year the company continued its expansion, opening an additional 17 outlets.

Since financial year end on January 31, 2018, the company has acquired five new properties in Ireland.

It also opened an additional eight Costa Coffee outlets since year end and closed one of its KFC outlets - at the Omni Park Shopping Centre in Santry in north Dublin - on September 30, 2018.

The accounts disclose that the company paid dividends of €3.7m in the 12 months to the end of January 2018 and declared and paid further dividends of €231,704 and €137,380 in April and June of 2018. The firm's profit takes account of non-cash depreciation costs of €6.3m and property lease rentals of €8.5m.

Last year, the business spent €155,105 on uniforms; €522,473 on waste disposal; and €209,313 on security.

Numbers employed rose from 1,614 to 1,710 with staff costs increasing from €22.15m to €25.6m.

Irish Independent