Business Irish

Wednesday 26 June 2019

Bottom line's up: Publican Fitzgerald and wife scoop €6.8m payday

Louis Fitzgerald
Louis Fitzgerald

The couple who own some of Ireland's best-known pubs including Kehoes and the Stag's Head in Dublin, Louis Fitzgerald and his wife, Helen, shared a bumper pay-packet of €6.8m last year. That was a 15-fold increase on their directors' pay for 2017.

The pay - which works out at €131,814 for the couple per week - is disclosed in accounts for the largest entity in the Louis Fitzgerald pub and hotel group, Burtse Ltd which shows pre-tax profits declined 30pc to €5.6m last year.

The couple's adult children now take a prominent role in running the family-owned Louis Fitzgerald Group.

The drop in pre-tax profits at Burtse in the 12 months to the end of end of June last is wholly attributable to the Fitzgeralds' stellar pay last year.

The Fitzgeralds rewarded themselves after the Burtse's revenues increased by 16pc from €60.4m to €69.9m in the year under review.

Fitzgerald's Burtse Ltd counts Dublin's Stag's Head, Kehoes, the Quays Bar and Louis Fitzgerald hotel among its star performers.

Numbers employed increased by 93 from 705 to 798 last year as staff costs, including directors' pay - increased from €15.39m to €22.2m. Burtse recorded the pre-tax profits of €5.6m after taking account of non-cash depreciation costs of €3.74m. Burtse enjoyed operating profits of €8.29m and paid out €2.6m in interest payments to give the pre-tax profit of €5.6m.

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