Get the app today! Download iPhone App Download Android App


Ireland's Biggest Domino's Franchisee Records Decline In Profits

Published on Nov 19 2020 9:27 AM in Restaurant tagged: Featured Post / Domino's / Shorecal

Ireland's Biggest Domino's Franchisee Records Decline In Profits

Newly-filed accounts for Ireland's biggest Domino's franchisee, Shorecal, have revealed that the business's profits declined to €8.8 million last year from €9.2 million in 2019.

As reported by The Irish Independent, the UK-based Domino's Pizza Group, which controls the Domino's franchise in Ireland, the UK, Switzerland and Liechtenstein, purchased a 15% a stake in Shorecal for €12.5 million last year.

Shorecal, which, is majority controlled by Northern Ireland's Caldwell family, currently controls approximately 30 Domino's Pizza outlets in Ireland.

Shorecal's newly-filed accounts also reveal that its revenues rose by 6% to €53.7 million last year, but higher interest charges resulted in its profits decreasing.

Additionally, the business paid no dividends last year, after paying €4.6 million in 2018.

COVID-19 Impact

Shorecal's business has continued to trade during the COVID-19 pandemic as it deemed an essential service, however, Shorecal directors stated in the accounts, "The COVID-19 pandemic has had a negative on its trading activities since the year end and has resulted in a lower than expected level of trading activity."

© 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.

Share on Facebook Share on Twitter Share on LinkedIn Share via Email