The company that operates the KFC franchise across Ireland returned to profit in 2011 with profits of €795,460.
Documents filed show that Herbel Restaurants (Ireland) Ltd recorded the profit after recording losses in the previous two years.
The figures show that the firm returned to profit in spite of revenues decreasing by 3% from €21.48m to €20.81m in the 12 months to the end of Dec 31, 2011.
The company operates 18 KFC restaurants. The directors’ report states that “despite the economic conditions, the KFC franchise business continues to trade well”.
The company’s revenues are split between €18.2m from sales at KFC outlets and €2.6m in rent with the company owning a substantial portfolio in the UK and Ireland with the properties situated in prime locations and predominantly occupied by large retailers.
The report states: “The company enjoyed good rental returns during the year.”
The value of the firm’s investment properties is €90.4m.
The profit takes account of non-cash depreciation costs of €932,208 and amortisation costs of €58,174.
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