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Losses Narrow at HMS Host Ireland

HMS Host Ireland, a leading operator of food and drink services at Dublin, Shannon and Cork airports, reported sharply declined losses for the year 2012 compared to 2011, thanks to a company restructuring and despite a decrease in revenue.

Losses for 2012 stood at €301,250, down 88% on 2011’s losses of €2.46m.  Revenues at the company decreased in the same period by 5%, down from €18.4m to €17.4m, partially as a result of closing most of its Dublin Terminal One units with the exception of one.  Employee numbers also decreased from 262 to 227.

The accounts were recently filed with the Companies’ Office.  In it, the directors said “The risks and uncertainties faced by the business are those typical of the retail food and beverage sector, but there are mitigated by the longstanding reputation and tradition of the company’s parent within the sector.”

The accounts also confirm that HMS Host Ireland’s parent company is in a position to financially support its Irish operations, should the need arise.

HMS Host is based in Italy and operates in more than 100 airports worldwide, with annual sales of over $2.7bn.

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