Tuesday 25 July 2017

Pub group operating Oliver St John Gogarty in Dublin's Temple Bar sees profits soar 57pc

The Oliver St John Gogarty pub in Dublin's Temple Bar
The Oliver St John Gogarty pub in Dublin's Temple Bar

Gordon Deegan

Pre-tax profits at the group that operates the Oliver St John Gogarty pub in Dublin's Temple Bar last year soared by 57pc to €4.9m.

The Martin Keane-controlled Drayton House Holdings operates the well-known pub named after the Dublin literary figure immortalised in James Joyce's 'Ulysses', where he appeared as Buck Mulligan.

Every year, tens of thousands of tourists descend on the pub and new figures for Drayton show it contributed to revenues increasing by 17pc from €12.92m to €15.18m at the group in the 12 months to the end of February.

The group also operates Blooms hotel in the Temple Bar area. Accounts show that the group's cash pile doubled last year going from €3.9m to €7.8m.

Numbers employed by the group last year decreased from 107 to 105.

Staff costs, including directors' pay, increased from €2.73m to €2.75m.

The figures reveal the group employed 69 admin staff, 33 bar staff and three construction staff.

Pay to directors increased from €217,500 to €233,650.

The accounts show that the firm's operating profits last year increased by 63pc from €3.1m to €5.11m.

The firm's cost of sales increased from €2.6m to €2.86m while administrative expenses increased from €7.15m to €7.45m.

The profit last year takes account of non-cash deprecation costs of €225,452.

At the end of February last, the firm had €30m in accumulated profits with shareholder funds standing at €35m.

Irish Independent

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