Thursday 21 September 2017

Michelin star takes Locks Brasserie out of red as it makes €100,000 profit

Locks Brasserie in Portobello was awarded a Michelin star last September
Locks Brasserie in Portobello was awarded a Michelin star last September

Gordon Deegan

A coveted Michelin star last year greatly improved the fortunes of Sebastien Masi's Locks Brasserie restaurant as it recorded profits of over €100,000.

Accounts lodged with the Companies Office show that William Elliott Ltd, the company that operates the French fine dining restaurant at Portobello, Dublin, was brought out of the red last year with profits of €103,337. An accumulated loss of €2,613 was transformed into accumulated profits of €100,724 in the 12 months to the end of October 31 last.

During the same period, the firm's cash pile also increased from €112,250 to €129,346.

The Locks Brasserie won its first Michelin star last September. Only five other Irish restaurants share the distinction with a seventh, Patrick Guilbaud, the only restaurant currently to have two stars.

A French chef working in Ireland for the past 19 years, Mr Masi took ownership of the Locks Brasserie in 2010 having operated the more established Pearl Brasserie on Dublin's Merrion Street since 2000.

Mr Masi could not be reached for comment yesterday. However, speaking in the aftermath of securing the Michelin star last year, Mr Masi described the win as "a great reward".

He said: "My team is delighted, it's really for them. They are walking on air tonight." Mr Masi said that the first year of the restaurant being in operation was "difficult financially".

A sample of Locks Brasserie restaurant's a la carte menu shows that a trotters and snails starter made up of a carpaccio of pig's trotters and escargot, ham and raisin beignet, apricot mustard with pickled and raw vegetables will set you back €14 and a main course of a dry-aged Donald Russell rib-eye steak will cost €32.50. The restaurant also offers a €25 seasonal market two-course treat menu.

Separate accounts for Mr Masi's other restaurant, Pearl Brasserie, show that it shared in the after-glow of the Michelin star award for its sister restaurant.

Returns for Petite Pearl Ltd show that the firm's accumulated profits increased by €87,975 going from €616,655 to €704,630 in the 12 months to the end of October 31 last.

The firm's cash pile during the period increased by €124,942 from €81,016 to €205,958.

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