Supermac’s set for €100m record annual revenue
Boosted by the opening of the group’s Barack Obama Plaza, revenues at the group — that also includes the income from two hotels —“will be very close to €100m this year”, according to founder and boss Pat McDonagh.
Mr McDonagh was yesterday commenting on new accounts lodged by Supermac’s (Holdings) Ltd which show that pre-tax profits at the group last year increased by 38% to €7.42m.
In a bumper year for the largest Irish-owned fast food business, revenues increased by 10% from €72.65m to €79.9m.
Mr McDonagh said that revenues should top €100m next year, adding that the group is aiming to open five new fast-food outlets in 2015.
Commenting on last year’s performance, Mr McDonagh said: “It was a pretty decent year, across the board, for the group and we continue to invest back into the business and that is where the growth comes from”.
He said: “There is a more positive outlook in the country right now.”
The group’s capital spend last year totalled €3.56m and this followed a capital spend of €11m in 2012.
The group has spent €10m on the Barack Obama Plaza, near Moneygall, and Mr McDonagh said: “We are delighted with it. It is performing quite well and it had a busy summer. It is paying its way.”
Mr McDonagh said that the Plaza is the group’s largest ever individual project with the development leading to the creation of 100 full-time and part-time jobs.
He confirmed that the new outlet at the plaza is already in the top ten performing Supermac’s outlets.
The company’s flagship operation in Galway’s Eyre Square is the best performing outlet in the group.
Mr McDonagh said that at the height of the summer season Supermac’s employs 3,000, with the numbers reducing to between 2,700 and 2,600.
The accounts show that the group’s accumulated profits last year stood at €53.4m, with its cash increasing to €16.7m.
The group continued to record profits throughout the recession and Mr McDonagh said that the group is benefiting from “not over-expanding in the good times”.
