Saturday 23 September 2017

Fitzgerald's pubs group back to profit

Quays Bar Temple Bar
Quays Bar Temple Bar

Gordon Deegan

The largest entity in the Louis Fitzgerald pub and hotel group last year returned to profit with pre-tax profits of €7.8m.

Fitzgerald's Burtse Ltd counts the Quays Bar, the Big Tree and Kehoes among its best performers and revenues at the Burtse group of companies soared by 94pc, going from €29.77m to €57.77m in the 12 months to the end of December last.

The prior year was for a seven-month period and the Burtse business also includes the operation of the Louis Fitzgerald hotel in Dublin. The company that operates Kehoes in Dublin, Trimblegrove recorded profits of €668,175 last year while the Louis Fitzgerald Hotel Ltd recorded profits of €977,019.

The Fitzgerald entity, Shelbourne O'Brien Ltd, which operates the well-known Stag's Head pub recorded profits of €551,910 last year and was sitting on shareholder funds of €10.25m at year end.

Brantive Ltd operates the Big Tree pub and it last year recorded profits of €210,104 for the year and had shareholder funds of €4.6m at year end. A breakdown of the Burtse group revenues show that €29.9m was from bar income with €12.8m from food and €10m from accommodation.

The business's off-licence business generated €2.25m while night club generated €504,235 and 'room hire' generated €524,562.

Numbers rose from 321 to 612 with €14m paid out in staff costs. Directors' remuneration stood at €432,884.

According to the directors' report actions taken to reduce costs, introduce improved working practices and efficiencies and develop new marketing strategies will ensure that the underlying business will remain profitable.

Irish Independent

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