The Irish arm of fast food franchise Kentucky Fried Chicken (KFC) went into the red last year with a pretax loss of €854,893.
New accounts filed by Scotco ROI Ltd show the loss came as revenue fell by 5 per cent from €24.2 million to €22.92 million in the 12 months to the end of December 29th last.
The pretax loss of €854,893 followed a pretax profit of €474,941 in 2018 – a negative swing of €1.329 million.
According to the directors, the KFC franchise continues to trade strongly. They said: “Overall, the directors are satisfied with the company’s results for the period.”
The accounts show a gross profit of €9.89 million.
Earlier this week, it emerged that Belfast businessman Michael Herbert sold his UK and Irish network of KFC restaurants to UK company EG Group for an undisclosed sum.
The Irish unit is a subsidiary of KFC group entity Herbert Corporate Holdings Ltd.
At the end of December 29th last, the Irish company was sitting on accumulated profit of €499,288. The company’s cash funds increased from €1.06 million to €1.12 million.
