City nightclub Coppers raked in €7m last year
NIGHTCLUB Copper Face Jacks has become a cash cow for its owner.
Famed for hosting celebrities, 'culchies' and gardai, the firm behind the club raked in a bumper pre-tax profit of €6.8m for the twelve months to the end of January 2013.
The profits are on the same level as the €6.81m profit enjoyed by Breanagh Catering Ltd the previous year when All-Ireland winning Dublin captain, Bryan Cullen used his All-Ireland winning speech to declare: "See you all in Coppers".
Having once been seen as a club for country people in Dublin, it is now a staple on the city night scene.
And that is proving very lucrative for for its owners, ex-garda Cathal Jackson and his wife Paula Jackson.
At the end of January 31 this year, the Jackson firm was sitting on a mouthwatering cash-pile of €43m.
The new accounts show that the company can well afford the €1m it paid the two Jacksons last year in salaries -- almost double the €566,460 received by the two in 2011.
Breanagh's 2010 accounts revealed that Copper Face Jack's cloakroom receipts alone totalled €217,146 -- however, no comparative figure is provided in the 2012 accounts.
During the past year, the nightclub successfully fought off two separate claims for damages by two women over dance floor falls.
The club is housed in the Jackson Court Hotel and the abridged accounts show that gross profit at the company increased by 3pc from €7.18m to €7.38m.
The firm incurred administrative expenses totalling €6m.
However, unspecified 'other operating income' totalling €5.8m resulted in a profit before interest of €6.88m.
The firm's corporation tax charge for the year totalled €1.26m -- this followed a tax charge of €1.14m in 2011.
According to the directors' report, "the company plans to continue its present activities and to increase turnover in the coming year".
The directors did not propose a dividend last year and at the end of last January, the company had €54.7m in accumulated profits.
The salaries for the Jacksons were the main factor in employment costs jumping by 21pc from €3.44m to €4.17m.
Efforts to make contact with Mr Jackson were unsuccessful.