Due to its decision to accept Ukrainians, a Cork-based business saw record sales of €10.03 million, reports The Mirror.
Pre-tax earnings for the business increased to €2.13 million in 2022 from €942,923 due to the Government of Ukraine’s business, according to the company’s new records.
From €4.09 million during the Covid-19 epidemic in 2021 to €10.03 million in 2022, revenues climbed by 145%.
The government contract to host Ukrainians is expected to generate €10.03 million in income in 2022, which is substantially more than the €7.32 million in pre-Covid-19 tourism revenue in 2019, reports The Mirror.
The Department of Children, Equality, Disability, Integration and Youth (DCEDIY) has been permitted to use some accommodations since March 2022, according to the directors, “and the level provided increased following closure of the holiday park for extensive renovation in November 2022.”
According to the publicly available quarterly purchase order data, the company was paid an additional €10 million (VAT included) for housing Ukrainians during the first three quarters of 2023.
In 2022, the company’s post-tax profits were €2.82 million, after a €695,000 corporate tax credit, reports The Mirror.
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