Staff at the Irish arm of online delivery firm Just Eat last year shared €424,485 in bonuses and incentives as revenues increased by 6% to a record €71.68m.
New accounts filed by Just Eat Ireland Ltd show that operating profits reduced by 18% 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 a record €71.68m.
The directors state that "are satisfied with the results generated for the year with increase in turnover and gross profit".
The company paid out a dividend of €10m last year after a dividend payout of €13m in 2023.
The firm benefited from net operating income of €1.52m which resulted in pre-tax profits of €14.94m - an 8% 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.
The 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.
Staff also shared €696,781 in share based payments charges which was down on €758,888 share based payment charges recorded in 2023.
Staff costs also included termination compensation of €112,155 compared to €76,903 under the same heading in 2023.
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, last year increased from €406,141 to €466,282. Directors who served during 2024 are listed as Amanda Roche Kelly, Jerome Gavin and Claire Pointon.
The profit for last year takes account of non-cash depreciation costs of €960,107 along with rental costs of €1.46m for land and buildings.
Shareholder funds last year increased from €18.08m to €21.6m as cash funds increased from €30.65m to €34.88m.
The CEO of the Dutch headquartered Just Eat global operations, Jitse Groen, said on the publication of the group's 2024 results "following the sale of our US operations, Just Eat Takeaway.com has become a more focused, faster growing, and more profitable business".
"Our ambition for 2025 is to further accelerate our top line growth through a step up in investments in Europe and UK and Ireland," he said.
Total global Just Eat revenues were €5.08 billion in 2024, a decline of 1% from €5.14 billion in 2023.
Reporting by Gordon Deegan
