New accounts filed by Just Eat Ireland Ltd show that operating profits reduced by 18pc from €16.32m to €13.4m due to higher costs.
The decline in operating profits came as revenues rose by €3.89m from €67.79m to €71.68m.
The directors state that they “are satisfied with the results generated for the year with increase in turnover and gross profit”.
Just Eat Ireland paid out a dividend of €10m last year after a dividend pay out of €13m in 2023.
The firm benefited from net operating income of €1.52m which resulted in pre-tax profits of €14.94m – an 8pc decline on pre-tax profits of €16.27m.
The drop in profits also followed administrative expenses increasing from €32.29m to €36.13m.
The firm recorded post tax profits of €12.82m after incurring a corporation tax charge of €2.12m.
Directors state that “employee costs are significant to our company” and staff costs last year increased from €6.16m to €6.4m as numbers employed rose from 98 to 106.
The breakdown of staff comprises 77 in administration and customer care; 28 in sales and one in marketing.
Staff costs included bonuses and incentives rising from €383,739 to €424,485.
Employees also shared €696,781 in share-based payments charges which was down on €758,888 share-based payment charges recorded in 2023.
Other staff costs also included termination compensation of €112,155 compared to €76,903 under the same heading in 2023.
Pay to directors, including pension contributions, increased from €406,141 to €466,282
On staff costs, the directors state that “we maintain a continued effort to find the balance between reducing employment costs and maintaining our policy of rewarding people well for good performance.”
Pay to directors, including pension contributions, increased from €406,141 to €466,282.
The profit takes account of non-cash depreciation costs of €960,107 along with rental costs of €1.46m for land and buildings.
Shareholder funds increased from €18.08m to €21.6m as cash funds increased from €30.65m to €34.88m.
CEO of Just Eat global operations, Jitse Groen, said: “Our ambition for 2025 is to further accelerate our top-line growth through a step up in investments in Europe and UK and Ireland.”
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