Fallon & Byrne Planning Growth After Reporting Profits Boost
Newly filed accounts show that Dublin food hall, wine bar and restaurant business Fallon & Byrne experienced a rise in turnover to €13.2 million last year.
The Irish Times reports that the company's revenues increased by close to 5% from €12.6 million for the year ending on June 30, 2015. It also experienced a 2% rise in like-for-like business, which surpassed the general growth rate while gross margins rose 1% to 55% of turnover.
Following a recorded loss of €166,432 the previous year, Fallon & Byrne's pretax profits more than doubled, going from €119,368 to €270,215, with operating profits rising by €38,245 to €336,434. Earnings before interest, taxes, depreciation and amortization increased from €440,213 to a total of €559,144.
In a note attached to the accounts, company directors Paul Byrne, Fiona McHugh and Frank Murphy said that they "feel the group is now very well positioned to take advantage of further opportunities for growth."