Revenues Rise At Catering Firm HMSHost Ireland
New accounts for HMSHost Ireland Ltd have revealed that the food company's revenues rose by 20% to €15.46 million last year.
HMSHost Ireland's main activity is the operation of food and beverage outlets at Dublin Airport, and record passenger numbers at the airport last year reportedly contributed to HMSHost's increased revenues.
However, despite the rise in its revenues, increased costs contributed to a decrease in HMSHost's pre-tax profits, which declined by 15% to €781,038 last year, as reported by The Irish Independent.
Among the contributing factors to the company's increased costs was a 16% rise in staff costs, which grew from €2.95 million to €3.4 million after the number of people employed by the company rose from 142 to 161.
Meanwhile, accumulated losses at the Irish subsidiary of HMSHost decreased from €10.1 million to €9.45 million last year; its shareholder funds amounted to €4.14 million after a called-up share capital of €13.6 million; and its post-tax profit totalled €655,025 following a corporation tax payment of €126,013.
© 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.