Dublin's All-Ireland run helps Copper Face Jacks firm's profits rise to €6.8m
Published 24/12/2012 | 05:00
Dublin's senior footballers' All-Ireland run and win last year helped the company behind well-known Dublin nightclub Copper Face Jacks to increase pre-tax profits by 5pc to €6.8m, new figures show.
In September 2011, more than 1.1 million TV viewers saw Dublin captain Bryan Cullen, pictured, endorse the nightclub, ending his victory speech at Croke Park with 'See you all in Coppers'.
New figures show that there was no need for the Dubs' endorsement for the profitable and cash-rich Breanagh Catering firm that operates the club.
Accounts lodged with the Companies Office show that its cash pile at the end of January this year stood at €38m – having increased by €5.4m in the preceding 12 months.
The pre-tax profits of €6.8m recorded last year followed pre-tax profits of €6.4m in 2010.
The firm is about to plough some of that money back into the club and Jackson Court Hotel that houses the venue with plans lodged to Dublin City Council for a revamp. The club is owned by ex-Garda Cathal Jackson.
At the end of last January, the company had €49.1m in accumulated profits.
The abridged accounts show that gross profit at the company dropped by 4pc from €7.46m to €7.18m.
Administrative expenses totalling €5.4m would have resulted in a profit before interest of €1.7m but for 'other operating income' of €5.1m. The firm's other operating income increased by 15pc from the €4.4m.
The profits also takes account of non-cash depreciation costs of €387,099. The company's tax bill last year came to €1.1m.
The numbers employed increased from 166 to 194 with employment costs up from €3.1m to €3.4m. This includes remuneration of €566,460 to the company's two directors, Cathal Jackson and Paula Jackson.