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Sharp Fall in Eddie Rocket’s Profits

A once off exceptional cost resulted in Eddie Rocket's reporting an 83% fall in profits last year, according to newly released accounts.

Recent filings for Eddie Rocket's (Ireland) Ltd show profits of €234,208, following the incursion of a €1.44m cost over an intracompany loan. The business reported a 17% rise in revenues, up to €20.1m for the year ending December 2017.

Last year's pre-tax profit has resulted in accumulated profits of €6.6m for the year end. Available cash in hand stood at 1.6m, up from €1.1m.

Employee count at Eddie Rocket's, which operates 50 outlets across the country, jumped from 274 to 328.

The management stated in the accounts that the business's financial position is satisfactory.

The company was founded by Niall Fortune almost 30 years ago, and recently expanded with a streamlined business concept called Rocket's.

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