IRISH-OWNED kitchen equipment manufacturer HK Global Systems increased its pretax profit last year by 80 per cent to $21.7 million (€15.21) million.

Accounts just filed for the Dublin-based company, which makes a range of stainless steel equipment for fast-food providers, show that the group's turnover rose to $345.5 million from $214.4 million in 2006.

HK's operating profit last year rose by 40 per cent and chief executive David Bobbett, who owns 53 per cent of the business, said this year would see an "improvement" on that performance.

"All of our customers are expanding because more people are moving into eating in the quick restaurant industry rather than the casual restaurant business," he said.

HK's customers include fast food chains McDonalds, Subway and IHOP.

It has also fitted out restaurant kitchens for Ikea, including at its stores in Belfast and Dublin, which has yet to open.

The Irish company supplied commercial kitchen equipment to about 20,000 restaurants in 70 countries in 2007.

The strong profit performance last year allowed HK to reduce its net debt to $8.7 million from $33.6 million.

Founded in 1975 in Canada, HK is now Irish-owned following a €50 million management buyout in 2002 which was led by Mr Bobbett, a finalist in this year's Ernst Young Entrepreneur of the Year awards.

Since then, HK's turnover has more than doubled and it employs 1,000 staff at 10 manufacturing and distribution centres across the world.

The company employs 30 staff at its head office in Dublin but has no manufacturing facility here.

HK is regarded as the number two player worldwide in the stainless steel kitchen equipment industry behind Swiss-based Franke, the world's biggest sink manufacturer.

The accounts show that HK's shareholder funds rose by $10 million to $49.5 million last year.