Losses at the company behind the Five Guys franchise here last year more than halved to €504,645 as the business dealt with the impact of Covid-19.

Sons of billionaire financier, Dermot Desmond, Brett, Ross and Dery brought the US fast casual food franchise here in 2016.

Today, Five Guys operates four outlets around Dublin at South Great George's Street, Blackrock, Swords and the Dundrum shopping centre.

Numbers employed at the business increased from 96 to 102 in the 12 months to the end of March last year as the company began to be impacted by Covid-19.

Currently, the impact of Covid-19 Government restrictions has resulted in Five Guys city centre outlets providing a collect and delivery service.

New accounts lodged by the Desmond brothers’ Anart Restaurants Ltd show that the company recorded losses of €505,645 in the 12 months to the end of March last.

The loss last year takes account of non-cash depreciation costs of €401,693.

The fiscal 2020 loss followed losses of €1.1m in the prior year.

At the end of March 2020, Anart Restaurants Ltd's accumulated losses totalled €2m.

A note attached to the accounts state that the "impacts of Covid-19 may have an adverse impact on the results of operations, financial position and cash flow in 2021".

The note adds that "management is continuing to monitor Government guidance including a review of the current situation in relation to Covid-19".

"The directors state that they are confident that the company "will recommence full trading once the period of restriction is lifted".

The amount owed to group undertakings last year increased by €276,103 from €3.94 million to €4.22 million.

The note goes on to state: "Management has received confirmation from all group companies that they will show forbearance, if required in demanding amounts due to them."

The Desmonds also operate the Five Guys franchise in Northern Ireland.