One of the best known pubs in the country will be toasting these incredible profits
Published 27/09/2016 | 02:30
Pre-tax profits at one of the best known pubs in the country, the Temple Bar, soared by 31pc to €2.77m last year.
Temple Inns Ltd, which operates the pub in Dublin's Temple Bar area, saw gross profit at the business jump from €7.4m to €8.8m.
The multi-award winning is a haven for tourists throughout the year and it has its own merchandise shop.
The pub has enjoyed significant expansion in recent years and last year added a Distillery Store that serves Irish, Scottish, and very rare whiskeys.
The two directors of the firm are Tom Cleary and Jackie Cleary who have their home at one of the country's most exclusive addresses - Ailesbury Rd in Dublin 4.
Their aggregate remuneration last year rose from €326,819 to €360,819. Their pay was made up of €334,000 in salaries and €26,819 in pension contributions.
At the end of October last, the group had accumulated profits of €8.3m and shareholder funds of the same amount.
According to the directors' report for Temple Inns Ltd, the principal activity of the firm is to trade as licensed vintners and retail shops. The cash pile last year increased from €2.799m to €3.44m.
Staff costs, including directors' salaries, rose from €2.12m to €2.33m. The group's operating profits last year totalled €3.34m and interest payments of €576,000 reduced the group's profits to €2.77m. The group enjoyed a post-tax profit of €2.37m after paying tax of €397,327.
The book value of the group's tangible assets last year stood at €15.84m and the profit last year takes account of non-cash depreciation costs of €209,882.