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Irish Arm Of Nando's Records 7% Increase In Operating Profits

Published on Nov 26 2020 11:56 AM in Restaurant tagged: Trending Posts / nandos / Nando's Chickenland Ireland Ltd

Irish Arm Of Nando's Records 7% Increase In Operating Profits

New accounts for Nando's Chickenland Ireland Ltd have revealed that the company's operating profits increased by 7% to €4.54 million last year.

Meanwhile, the company's pre-tax profits decreased by 30% to €2.7 million due to interest costs and foreign exchange loans that amounted to €1.76 million; the number of people employed by the company decreased from 459 to 454; staff costs increased from €9.28 million to €9.3 million; pay to directors amounted to €225,042; and the company's post-tax profits amounted to €2.43 million following a corporation tax bill of €351.042, as reported by rte.ie.

Additionally, the company's cash increased from €18.45 million to €22.19 million.

Non-Cash Depreciation Costs And Amortisation Of Fixed Assets

The company's profits for last year take account of non-cash depreciation costs of €1 million and amortisation of fixed assets of €676,150.

Accumulated Profits

At the end of February of 2020, the company had accumulated profits of €19.5 million.

© 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.

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