Profits of almost €1m flow at O'Regan pub, hotel and restaurants empire
Published 08/06/2016 | 02:30
Pre-tax profits at the flagship pub and restaurant business operated by one of the country's best known publicans, Declan O'Regan, increased by 5pc to €967,962 last year.
Accounts for the 12 months to the end of May 2015 filed by O'Regan's Telfer Ltd - which operates Hogan's bar and L'Gueuleton restaurant on Dublin's South Great George's Street - show that pre-tax profits rose from €919,507 to €967,962.
Mr O'Regan is a brother of the late entrepreneur and publican Hugh O'Regan.
The figures show that gross profits increased from €5.24m to €5.3m.
According to the directors' report, the directors are satisfied with the year's results.
The accounts show that the firm recorded an unrealised loss of €3.67m following a revaluation of the company's fixed assets.
The professional revaluation took place in April 2016 and the valuation of the firm's fixed assets amounted to €14.5m.
Telfer Ltd also operates 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 Telfer increased from 90 to 92 with staff costs going up from €2.29m to €2.294m. The figures show that staff numbers were broken down into 81 in sales and 11 in management.
The figures show that Mr O'Regan and the only other director, Maeve O'Meara, shared remuneration of €104,000 last year - down significantly on the €168,550 payout in 2014.
The firm's profits take account of non-cash depreciation costs of €517,819.
The firm had shareholder funds totalling €18.12m that included €5.5m in accumulated profits.
Cash during the year increased sharply going from €546,567 to €1.15m.
The firm recorded an operating profit of €1.2m and paid net interest of €251,143.