Profits at Supermac's, the Galway-based fast food chain operated by Pat McDonagh, saw profits increase 25% year-on-year, according to new accounts filed last week by Supermac's (Holdings) Ltd.

Supermac's recorded a profit of €24.1m, up from €19.2m a year previously, bringing the company's net assets at the end of the financial year to €188m, as the fast food sector partially recovered from the pandemic.

Revenues increased 38.3%, from €141.5m to €195.7m, while the cost of sales from (€109.2m) and administrative expenses (€65.5m) rose 40.9% and 33.9%, respectively, year-on-year.

After "other operating income" of €16.7m, the group recorded a group operating profit of €37.7m, up 61.1% from 23.3m. After exceptional items of €7.9m relating to a write-down of inter-company loans, profit before tax was €29.5m. The firm paid €5.4m in tax.

The group's cash funds increased from €34.5m to €61.1m while the company spent more than €11.7m on property acquisitions, down from €13.1m in 2020.

In Association with

The numbers employed by Supermac's increased from 1,443 to 1,503, resulting in staff costs also rising, from €24.1m to €38.9m.

Directors Pat McDonagh and Una McDonagh each have a 50% share in the business. Director remuneration was €152,425, up from €140,759 in 2020.

Supermac's owes Pat McDonagh some €5.8m, down from €6.2m in 2020, and during the year the company paid McDonagh €789,104 in respect of property leased to the firm.