Profit jumps 11% at McDonald’s Irish arm
New store openings and Ireland’s growing fast-food appetite sees profits rise last year
McDonald’s Restaurants Ireland employed 866 staff in 2016 with wage and salary costs of €17m. Photograph: PA
Profit at the Irish arm of McDonald’s has increased 11 per cent on the back of new store openings and Ireland’s growing fast-food appetite.
Recently filed accounts for McDonald’s Restaurants of Ireland Limited, the local arm of the US multinational, show profit after tax jump to €11.5 million in 2016 as like-for-like growth softened the impact of the disposal of three stores from the core group.
The Irish arm itself operates nine stores in the State, down from 12 in 2015, and holds the master franchise for the remaining 82 stores here, up from 77.
The increased number of stores helped the company record a 14 per cent increase in operating profit to €15.7 million, a result that was “broadly in line with expectations, representing an improvement over the prior year”. Turnover for the year was 2 per cent higher at €86.6 million.
The company employed 866 staff and had wage and salary costs of €17 million.
After dividends totalling €118 million were paid to parent entities, shareholders’ funds were up 85 per cent to €18.4 million. The Irish master franchiser is controlled by MCD Europe Limited, a British business whose ultimate parent undertaking is the US-based McDonald’s Corporation.