The group recently expanded its footprint with the opening of Banner Plaza outside Ennis
New consolidated accounts filed by Supermac’s (Holdings) Ltd show that the group’s pre-tax profits declined by 9.5pc to €39.44m, despite revenues increasing by 7pc from €294.37m to a record €314.1m – an average of €6m per week.
A significant factor behind the decrease in profits was the group contributing €2m in pension costs for the co-owners and directors of the business, Pat McDonagh and Una McDonagh, who each hold a 50pc share of the business.
This resulted in directors’ pay increasing from €152,425 in 2023 to €2.15m – made up of the pension costs of €2m and remuneration of €152,425 – last year.
The €2m pension cost for the directors was part of an overall €7m pension cost across the group.
The €7m in pension costs resulted in staff costs increasing by 21pc from €57.1m to €68.89m – €56.19m in salaries, €7m in pension costs and €5.69m in social welfare payments – last year.
Numbers employed last year decreased from 2,527 to 2,458, made up of 2,279 in operating staff and 179 in management and administration.
The group expanded further earlier this month, opening its new €20m Banner Plaza on the M18 – which links Limerick and Galway – outside Ennis.
The group recorded a post-tax profit of €32.95m after incurring a corporation tax charge of €6.48m.
In their directors’ report, the McDonaghs stated that “turnover continues to be strong, reflecting the strong demand for the goods and services provided by the group”.
The McDonaghs stated that “gross profit margins continue to perform well and, while the group continues to have to deal with escalating costs, the directors are pleased with the performance in the year”.
Along with the Supermac’s chain of restaurants, the group also operates a number of hotels and is involved in the property sector.
The group generated €3.75m in other operating income last year.
The stellar performance by the group further strengthened the group’s balance sheet, with accumulated profits of €285.99m at the end of December 2024.
The group’s cash funds increased from €111.65m to €139.65m.
The profit takes account of non-cash depreciation costs of €6.5m.
