Two companies associated with fast-food franchise Eddie Rocket’s delivered profits of €1.98 million after sales increased by more than 12 per cent.
Recently filed accounts show turnover for Rocket Restaurants Limited increased to €35.7 million while profit increased almost 29 per cent to €1.75 million.
The picture was slightly different for Eddie Rockets Ireland Limited, where profit before tax fell 83 per cent to €234,208 on revenue of €20.1 million. However, in that case, the company booked exception administrative expenses of €1.445 million.
The ultimate controlling party of both entities is Niall Fortune, who holds a 90 per cent shareholding in Rocket Restaurants Limited.
Rocket Restaurants derived the majority of its turnover from the Republic, although the “rest of Europe” accounted for revenue of €1.23 million.
The company is reportedly planning expansion into the Middle East having opened its first German outlet in October.
The two companies employed a total of 807 staff with wage and salary costs of €16.5 million.
Franchised
Eddie Rockets opened its first 1950s-style diner experience in Dublin in 1989 and most of the group’s restaurants are franchised. The chain now has more than 50 outlets including the “Rocket’s” brand which was launched in 2014.
Similar to the group’s’s main restaurants, Rocket’s promises a faster dining experience but was positioned to appeal to millennials.
The directors found trading results for both companies in 2017 were “satisfactory”.
Nobody from the company was available to comment this afternoon.
