Series of new contracts helps Kylemore back to profitability

Dublin-based catering services company Kylemore Services Group (KSG) has returned to profitability, generating pre-tax profits of €731,628 in its last financial year, after showing a €1.85 million loss in the previous 12 months.

Turnover for the group, in the 12 months up to the end of last March, was unchanged at €30.2m. Operating profit was €734,982; compared with an operating loss of just under €1.8m for the preceding year. The company, which changed its name from Kylemore Foods Holdings last August, expanded its workforce by 20 people during its last financial year, bringing its total employment numbers to 624. As of the end of last March, KSG had a net cash balance of just over €2.9m, up by almost €1m on the preceding year-end.

Shareholders’ funds rose by around €500,000 to €10.5m.