Fallon and Byrne returns a tasty profit

The food company had a bumper 2015...

Fallon and Byrne returns a tasty profit

fallonandbyrne.com

Food business Fallon and Byrne enjoyed a strong 2015 as earnings more than doubled.

The gourmet group enjoyed a 19% revenue increase, taking in €12.63m in the 12 months to the end of June 2015.

Accounts filed by its holding company Sarzala show that earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 164%, from €200,934 to €528,806.

A pre-tax profit of €119,365 was recorded, this was up from a pre-tax loss of €166,431 during its 2014 fiscal year.

The group, which is run by the husband and wife duo of Paul Byrne and former journalist Fiona McHugh, entered examinership in 2012.

Fallon and Byrne operates a food hall, restaurant, wine cellar and a function room on Exchequer Street in central Dublin.

The number of people employed by the company increased from 151 to 195, as staff costs rose by 22% to €4.5m during the 12 months.

A note from the directors said that they are "very optimistic as regards the future prospects for the company."

“The directors feel the group is now very well positioned to take advantage of further opportunities for growth and to leverage off the business’s strong brand recognition and reputation for quality,” it continued.