Losses narrow at Gate Gourmet inflight catering company

Pretax losses narrowed at the Dublin Airport-based inflight catering firm Gate Gourmet last year as pandemic travel restrictions eased.

New accounts filed by Gate Gourmet Ireland Ltd show that revenues in 2021 increased by 65 per cent from €2.1 million to €3.5 million, while pretax losses fell 61 per cent to €1 million.

However, the 2021 revenues were 80 per cent down on pre-Covid 2019 sales of €18 million.

The company last year received €1.4 million in Government Covid-19 wage supports, having got supports of €1.1 million in 2020.

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Strategic plan

The directors noted that the Gate Gourmet’s strategic plan “will be to sustain its profitability and build on its already strong business models”. They expressed confidence that its performance would continue to improve “if no further restrictions are implemented in 2022″.

At the end of December last, the company’s shareholder funds totalled €5.2 million, including accumulated profits of €641,899.

The company’s cash funds increased sharply from €239,025 to €1.11 million last year.

Food and beverages

Separately, another Dublin Airport-based food and beverage company, HMSHost Ireland Ltd, last year recorded zero revenues due to the pandemic.

This compared to pre-Covid 19 revenues of €15.6 million in 2019.

HMSHost Ireland Ltd last year recorded pretax losses of €270,937, down from losses of €1.88 million in 2020.

The Dublin business ceased trading in March 2020 due to Covid-19 and contracts expired at the end of January 2021.

HMSHost directors noted that Covid-19 had delayed a new tendering process that would take place during 2022/2023 with a trading date of 2024.