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Monday 20 February 2017

Michelin-star restaurant enjoys weekly revenues of over €51,000

Gordon Deegan

Published 03/09/2015 | 02:30

Chef Ross Lewis at Chapter One
Chef Ross Lewis at Chapter One

The decorated restaurant Chapter One, co-owned by the 'queen's chef' Ross Lewis, is enjoying the fruits of the capital's boom in fine dining with weekly revenues of more than €51,000.

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Showing that there is good money to be made in tasty stuffed pig's tails and carpaccio of veal, new figures show that Chapter One marginally increased its revenues to €2.698m in the 12 months to the end of February 2015.

Chapter One on Parnell Square is one of nine Michelin-starred restaurants in Ireland.

In a rare, detailed insight into the finances of a Michelin-starred restaurant here, the firm's accounts show that despite its revenues, the business just broke even last year - recording a modest loss of €595.

Mr Lewis and his fellow director and shareholder Martin Corbett increased their aggregate pay last year by 44pc from €366,416 to €530,434.

Food author and Cork native Mr Lewis had the distinction of leading the team that cooked for Queen Elizabeth II at a State banquet at Dublin Castle during the State visit here in 2011.

He is widely regarded as one of Ireland's finest chefs.

Earlier this year he expanded his food operation with the opening of Italian restaurant Osteria Lucio, on Dublin's Grand Canal Quay, on the back of the success of Chapter One over the years.

The Chapter One business continued to enjoy the 'royal dividend' last year with weekly revenues of €51,895 - even with the restaurant closed on Sunday and Monday of each week.

The business also enjoyed additional income last year of €184,200.

It included €179,634 under the heading of 'Un-presented voucher claw back' with no further explanation provided.

Irish Independent

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