McDonalds 'performing strongly' in tough market
PROFITS at the Irish business of McDonald's rose marginally last year as the fast food giant bucked the economic downturn here.
According to accounts just filed for McDonald's Restaurants of Ireland Limited (MRIL), the company increased earnings here to €11.3m from €11.1m a year earlier.
The growth came despite an almost 10pc decline in sales to €77.9m during the period.
MRIL runs the 12 McDonalds restaurants in Ireland that are directly owned by the fast food giant. Another 70 outlets are run here as franchises. They are not included in the accounts.
Company managing director Adrian Crean said the results reflected a "very strong performance" during 2011.
"This was achieved in a challenging economic climate," he said.
"This year has seen a continuation of the challenges in the domestic economy. That said, we have already had a number of significant announcements in 2012 regarding our sourcing and exporting of Irish produce, including our deal with Dawn Meats.
"We look to the future with confidence that we will continue to grow our business while delivering on our plans for expansion and further job creation," Mr Crean added.
The number employed by MRIL fell by 8pc to 867, but this was due to transferring three restaurants to franchisees rather than cutbacks.
Related staff costs fell to €16.5m from €18.4m, while the company paid dividends of some €7.5m to its parent company, UK-based McDonald's Europe Limited.
McDonald's signed a €300m deal this year with Dawn Meats to supply beef to its restaurants here.