Profits And Revenue Rise At Sodexo Ireland
New accounts filed by Sodexo Ireland Ltd have revealed that pre-tax profits at the Irish arm of catering company Sodexo increased by 52% to €4.19 million during the year that ended on August 31, 2019, while revenues rose by €4.9 million to €108.6 million.
Meanwhile, the number of people employed by Sodexo in Ireland rose from 1,976 to 2,005; staff costs increased from €53.6 million to €56.31 million; the company's operating lease costs increased from €528,000 to €776,000; its cost of sales increased from €92.97 million to €95.4 million; its cash in hand increased from €17 million to €17.2 million; its operating profits increased by 41% to €4.39 million; its accumulated profits amounted to €10 million last year; and its post-tax profits amounted to €3.65 million.
Additionally, the company's shareholder funds amounted to €6.5 million, and the company paid a €2.9 million dividend, as reported by The Irish Independent.
Sodexo's global revenues amounted to €21.9 billion during the 12 month period.
© 2020 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.