Pre-tax profits at Irish wholesale food supplier Pallas Foods increased 111% to €10.7 million during the year that ended on June 30, 2018.
Revenues, Employment Numbers And Staff Costs
The substantial rise in pre-tax profits came as the company's revenues rose from €319.2 million to 352.18 million and the number of people it employs grew by 131 to 1,015, with staff costs increasing to €44 million and directors' pay totalling €534,045.
The company's operating profits rose from €6.99 million to €14.26 million.
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A combination of a €3.18 million net loss on financial liabilities at fair value and €287,968 in net interest payments brought the company's profits down to €10.7 million.
Operating Lease Charges And Shareholder Funds
Additionally, the company's operating lease charges came to €2.7 million for the 12 month period and its shareholder funds amounted to €121.3 million as of June 30, 2018.
© 2019 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.