The Wright Group, led by CEO Michael JF Wright, saw a substantial increase in pre-tax profits to €10.67m last year, nearly tripling from the previous year, as revenues surged by 38pc to €49.04m.
The growth in profits and revenues was attributed to strong sales across existing units and successful openings of new outlets in various markets and regions in Ireland, driving exceptional financial performance for the group.
Operating profit rose by 75pc to €9.32m, although net exceptional costs of €1.2m related to write-offs and disposals impacted profits. Despite interest payments and other costs, the group recorded a non-cash gain of €3.42m on investments.
The group’s businesses, including Marqette foodhall at Dublin Airport and other food outlets, contributed to the positive results, reflecting improved operational efficiencies, cost management initiatives, and a 54pc increase in EBITDA. Staff numbers almost doubled to 490, and staff costs rose by 50pc to €12.99m, with directors’ pay decreasing by 20pc to €604,354.
