Five Guys restaurant chain posts profit of €529,867 via IrishTimesBiz
During the early phases of Covid-19, revenues across the firm had declined 68.7 per cent in the 12 months to the end of March 2021 compared to the prior 12-month period.
Five Guys operates four outlets around Dublin, at South Great George’s Street, the Pavillons shopping centre in Swords, the Dundrum shopping centre and at Liffey Valley. Underlining the increased business last year, numbers employed increased from 36 to 136, made up of 15 in management and 121 in crew.The profit for last year takes account of non-cash depreciation costs of €412,251.The accounts have been prepared on a going concern basis “and the company’s ability to continue as a going concern is dependent upon its ability to trade profitably in the future”.
A note with the accounts said “the group will not seek repayment for the amounts owed amounting to €4.46 million until the company has sufficient resources to meet this obligation”. The note adds that the directors have also considered the cash flows of the company and believe it will be able to trade profitably in the future. The company’s cash funds increased from €228,229 to €486,877.Anart Restaurants Ltd is a subsidiary of Jersey-based Hasco Ltd. The accounts state that the consolidated accounts for Hasco are not publicly available.
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