Profits drop at landmark Dublin pub firm
Pre-tax profits at the flagship pub and restaurant business operated by one of the country's best known publicans, Declan O'Regan, fell by 22pc last year.
Accounts filed by O'Regan's Telfer, which operates Hogans bar, inset, and L'Gueuleton restaurant on Dublin's South Great George's Street show that pre-tax profits fell from €1.18m to €919,507 in the 12 months to the end of May last year.
Mr O'Regan is a brother of the late entrepreneur and publican Hugh O'Regan and the figures show that the firm's pre-tax profits fell as its gross profits remained static at €5.2m
According to the directors' report, the directors are satisfied with the year's results.
They say they "are confident that turnover can be increased during the coming year and anticipate that profitability can be maintained".
Telfer also operates O'Regan's Kelly's boutique hotel on South Great George's Street. Mr O'Regan has also expanded his business interests in the area by opening a bar and restaurant at the nearby Drury Buildings.
Numbers employed by the company remained static at 90 with staff costs rising marginally from €2.19m to €2.29m.
The firm's profits take account of non-cash depreciation costs of €463,910. The firm's shareholder funds of €11m included €4.7m in accumulated profits.