Irish pizza delivery franchiser Four Star Pizza delivered a €310,000 profit to its owner Michael Holland last year after the company’s slice of the pizza business rose to €2.7 million.
Four Star Pizza’s national franchisee network employs more than 1,000 people in over 50 stores across Ireland – one of the largest delivery groups in the country.
Newly filed accounts to the Company’s Registration Office by Gonville Limited, the parent company of the Four Star group, show the firms turnover grew by 6 per cent year on year.
The company, however, reported significantly increased administrative costs in 2024, up from €1.9 million to nearly €2.4 million. This inflation cost the firm dearly, cutting its post-tax profits in half from €615,262 to €310,122.
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The company has valued its franchise rights at nearly €5.8 million but has largely amortised the value of the asset, charging almost €290,000 of depreciation against the asset in 2024 to just €1.79 million.
During the financial period, the company paid €366,176 to its sole owner, Mr Holland, adding to a repayment of €1.46 million made the previous year to settle an amount owed.
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Staff numbers rose from 13 to 15 in the period. Pay to the company’s directors stood at €225,000 in the year, up from €180,833 the previous year. No dividend was declared during the period.
The consolidated accounts for the group of companies include the franchiser of the overall brand, a holding company, and Cristvale Limited, which is described as a restaurant and takeaway in the filing.
Prior to the budget in October, the chief executive of the franchise, Colin Hughes called upon the Government to reintroduce the 9 per cent VAT rate for hospitality noting that the chain’s franchisees have endured “incredibly tough economic conditions”.
He noted that profit margins for the franchised stores are razor thin in light of inflationary and cost pressures.
A representative of Four Star Pizza was contacted for comment.
