Aarval Ltd, which is one of the largest McDonald’s franchise operators in Ireland, saw revenues jump from €40.27 million to a record €46.93 million in 2023.
The company, owned by husband-and-wife team Aaron and Valerie Byrne, first operated a McDonald’s outlet in Galway’s Shop Street, along with two other outlets in Galway City.
The couple expanded the business at the end of 2020 by acquiring four McDonald’s restaurants in Limerick.
The directors’ report for 2023 noted that, despite the jump in revenue, increased costs contributed to pre-tax profits falling slightly, from €1.645 million to €1.635 million.
In November, fast-food giant McDonald’s announced its ambition to create 1,000 new jobs across Ireland over the next four years, as part of a €40 million investment.
This comes after the company’s new Social and Economic Impact Report found that McDonald’s supports 11,640 jobs in Ireland and contributed €414.6 million to the Irish economy in 2023.
Speaking in November, Alistair Macrow, chief executive of McDonald’s UK and Ireland, said, “I’m also thrilled to announce a €40 million investment in our Irish restaurant estate, which, over the next four years, will lead to the creation of 1,000 additional jobs in Ireland. This is a moment to celebrate, but also an opportunity to look ahead to what’s next.”
McDonald’s opened its first Irish restaurant on Grafton Street, Dublin, in 1977, and since then, its Irish portfolio has grown to 95 restaurants, which are all owned and operated by 19 local franchisees.
