Business booming for Rosanna's father-in-law Quirke
Published 22/05/2014 | 02:30
THE amusement arcade and casino business of Rosanna Davison's new father-in-law, Richard Quirke, recorded pre-tax profits of €1m last year.
New accounts filed by the 67-year-old's firm, Dublin Pool and Juke Box Ltd, show that it recorded the €1m pre-tax profit after recording a pre-tax loss of €483,793 in 2012.
The turnaround in Mr Quirke's business came after its gross profit increased by 24pc going from €3.59m to €4.4m in the 12 months to the end of June 30 last.
The 2012 loss at the firm arose from sales at the firm declining by 34pc while the firm incurred a one-off €803,486 cost as a result of a Revenue investigation.
The firm incurred the one-off cost as "a result of the application of incorrect value added tax rates to income earned in the current and previous years".
No other issues were identified in the investigation.
Mr Quirke is soon to head off with his family to Ibiza for the extravagant wedding celebrations of his son, Wes, to former Miss World Rosanna.
The couple got married at a low key private civil ceremony in Dublin last weekend ahead of the June 1 bash at the five-star Atzaro hotel.
The new accounts show that Mr Quirke's firm has a very strong balance sheet with accumulated profits of €19.3m. Last week's 'Sunday Times' Rich List gave him a €46m fortune.
Mr Quirke is the businessman behind ambitious €480m plans for a major development, including a casino, at Two Mile Borris in Co Tipperary. His arcade firm operates Dr Quirkey's Good Time Emporium on Dublin's O'Connell Street.
The figures show that last year's profit takes account of non-cash depreciation costs of €553,325. The accounts show that remuneration for Richard Quirke and Anne Quirke last year increased from €208,168 to €213,000.
In relation to Mr Quirke's plans for Two Mile Borris, the accounts state that since year end "the company is continuing to purchase land and properties in order to develop a casino and leisure complex in Co Tipperary.
"There is no concern regarding the company's ability to continue as a going concern – the company has adequate funds available through directors' loans".