Expansion costs weigh on profits at Boojum fast food chain

The cost of expanding into most cities across Ireland has weighed on the profits of the firm behind the Boojum fast food chain of restaurants.

New figures filed by Modern Restaurants Concepts Ltd show that revenues at the business climbed 52% to €18.46m in the 12 months to April 23 last year. However, the costs of expansion meant operating profit fell by 35% to €744,269. It posted a pre-tax loss of €653,456, which included foreign exchange losses of €205,499, interest charges of €274,407 and exceptional costs of €917,819.