Rejuvenated Fallon & Byrne turns healthy profit

As it gets ready to put down roots in Rathmines...

Rejuvenated Fallon & Byrne turns healthy profit

Fallon & Byrne more than doubled its pretax profits in the year to last June, just two years on from making a loss.

Pretax profits were up from €119,368 to €270,215, on the back of a nearly 5% rise in revenues to €13.2 million.

Earnings before interest, taxes, depreciation and amortisation (ebitda) came to €559,144, up from €440,213. There was also a 2% increase in like-for-like business, exceeding the general rate of growth.

"The ebitda figure in the context of the group’s total bank loans at the year-end of €388,644 leaves the group with a relatively low level of debt in comparison to its earnings,” the directors Paul Byrne, Fiona McHugh and Frank Murphy said in an accounts note.

"The directors feel the group is now very well positioned to take advantage of further opportunities for growth."

The figures show that the food hall, wine bar and restaurant business is properly back on its feet post-recession.

The company, which entered examinership in late 2011 and was loss-making as recently as 2014, is due to add to its Exchequer Street and Dun Laoghaire outlets with the opening of a new site in Rathmines.

The Exchequer Street premises opened its doors in 2006 and was followed by the People's Park operation in Dun Laoghaire in November 2014.

The Rathmines branch will arrive at the Swan shopping centre this summer.