Pre-Tax Profits Decrease 25% At Sodexo
New accounts for catering firm Sodexo Ireland Ltd have revealed that the firm's pre-tax profits decreased 25% to €2.76 million during the year that ended on August 31, 2018.
The decline in pre-tax profits came despite a 9.5% rise in revenues, which increased from €94.75 million to €103.74 million during the period.
The company paid an interim dividend of €2.4 million.
Meanwhile, staff costs increased from €48.95 million to €53.6 million, with the number of people employed by the company rising from 1,866 to 1,976; directors' emoluments rose from €263,000 to €274,000; the cost of sales increased from €83.9 million to €92.97 million; and administrative expenses rose from €6.8 million to €7.6 million.
Additionally, Sodexo's cash pile increased from €11.49 million to €17 million and the company had €7.39 million in shareholder funds as of August 31, 2018.
Sodexo's operating profits declined 21% to €3.1 million.
The company's post-tax profits amounted to €2.27 million.
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