Revenues at HMS Host food firm rise to €15.4m

Record passenger numbers at Dublin Airport last year helped boost revenues at food company HMS Host Ireland by 20% to over €15.4m.

New accounts lodged by HMS Host Ireland Ltd — a subsidiary of the multinational group owned by Autogrill — show that increased costs weighed on pre-tax profits which fell 15% to €781,038.

In Ireland, the company’s staff costs increased to €3.4m as staff numbers rose from 142 to 161.

The main activity of the company is operating food and beverage outlets at Dublin Airport.

In the accounts, the directors said the company operates in a very competitive environment and the outlets are awarded for a limited period of time.

“All spaces are tendered in a public competition upon expiry and as such a number of competitors may express an interest in the space.

“HMS Host Ireland Ltd strives to maintain a strong reputation within the airport at all times and ensure it is well placed to compete in such processes,” it said.

Accumulated losses at the Irish subsidiary now stand at €9.4m but the accounts show the company had shareholder funds of €4.1m.

After spending €4.5m on materials, supplies, and goods, the company’s next highest spend was on leases, rentals, concessions, and royalties of over €3.3m.

After paying corporation tax of €126,013, the company posted an after-tax profit of €655,025.

“The potential risk of passenger decline in Ireland and changing spending habits of passengers can pose economic risk to the company,” it said.

Autogrill employs more than 57,000 staff in 31 countries and has outlets in 150 airports.