Belfast Telegraph

KFC franchise gets a taste for investment

HERBEL is a large family-owned company, headquartered in Belfast, combining significant interests in property investment and development along with extensive retail fast food operations as part of the Kentucky Fried Chicken (KFC) franchise.

The group believes that it is the largest KFC franchise in Europe and has outlets in the Republic of Ireland, Isle of Man, Scotland, England and Northern Ireland.

The property investment assets are located in the UK and the Republic of Ireland.

They include shopping centres, an industrial estate and office accommodation.

Financial results for 2011 reflect a write-down in the value of investment property and the taking of exceptional charges against the profit and loss account.

Operating profit, as shown in the table, is before a deduction of exceptional charges of £7m in 2010 and £8.6m in 2011. When these exceptional charges are included in calculating pre-tax results the outcome in 2010 was a loss of £11.6m and £5.6m in 2011.

When the pre-tax losses and the write-down of the value of assets are carried into the balance sheet, the value of shareholders' funds, which had fallen by £19.8m during 2010, fell by a further £11.4m in 2011.

The group has a large portfolio of physical assets whose balance sheet value has fallen from £202m in December 2009 to under £174m at the end of 2011.

The average number of employees rose in 2011 to reach 1,110 people: an increase of 18%.

Belfast Telegraph