Profits slide at mountain pub Johnnie Fox's
Profits at one of the best known pubs in the country, Johnnie Fox's in the Dublin Mountains, tumbled by 73pc to €62,839 last year.
New figures show that Fox's Pub Ltd recorded the €62,839 profit in the 12 months to the end of March last after recording a profit of €231,507 in 2015.
Numbers employed by the business last year increased from 48 to 50.
Only 420 people live within a radius of 2.5 miles of the pub, situated 12 miles from Dublin, but it manages to attract large crowds year-round.
Over the years, the pub has provided hospitality to seven heads of state, six prime ministers along with celebrities such as Brad Pitt and Angelina Jolie.
Brian Keenan enjoyed his first pint in Ireland at Johnny Fox's after his release in the Middle East.
Limerick man Tony McMahon has owned the business for around 30 years. The firm's cash pile last year fell from €130,912 to €53,386 while money owed to the firm by debtors increased from €385,711 to €621,231.
Mr McMahon was not available for comment yesterday but in a previous interview, he said that coming to Johnnie Fox's is an adventure for people and that the key to the success of the pub is great music and great food along with a very friendly staff.
No TVs are on the premises with Mr McMahon stating "TVs in pubs have killed the art of conversation." The firm's staff costs last year increased from €1.74m to €1.87m. A breakdown of the numbers show that 20 work in the bar; 14 in the restaurant; seven in administration; seven in management; and two in the stock room.
Directors' remuneration last year increased from €111,000 to €123,000.
Johnnie Fox's is one of the best known names in the Irish drinks industry. Recent figures show that almost 92,000 jobs across the country are dependent on the drinks industry.
The industry buys over €1.1bn of Irish produce annually, exports goods worth over €1bn, and provides over €2.3bn worth of excise and VAT income as well as hundreds of millions in income tax, PRSI receipts and tax on profits to the State every year.
However, it is an industry under pressure with 1,023 pubs closing across the country from between 2007 and 2014.