Monday 20 August 2018

Chawke's Orchard continues to bear fruit

Publican Charlie Chawke with daughter Ali at the Orchard Inn
Publican Charlie Chawke with daughter Ali at the Orchard Inn

Gordon Deegan

The jewel in the crown of the Charlie Chawke pub empire and the country's most expensive pub, the Orchard Inn in Dublin, returned operating profits of just over €290,000 last year.

The jewel in the crown of the Charlie Chawke pub empire and the country's most expensive pub, the Orchard Inn in Dublin, returned operating profits of just over €290,000 last year.

It is now 12 years since Mr Chawke, one of the country's best known publicans, purchased the pub in Rathfarnham for €22m.

Its record purchase price has yet to be broken here.

New accounts just filed by the company that operates the pub, Orchard Inn Ltd, show that it recorded operating profits of just over €290,000 in the 12 months to the end of September last.

The operating profits of €290,000 follow operating profits of €450,000 in 2015.

The purchase of the pub and larger site was funded from a bank loan of €22m.

Although the annual bank loan repayments aren't disclosed in the accounts, they totalled over €500,000 in the last year that they were revealed, in 2011.

The accounts show that after taking in accumulated depreciation charges over the past number of years, the firm's main asset retained a book value of €20.35m at the end of October last.

Numbers employed by the business last year remained static at 48 with staff costs increasing from €1.32m to €1.4m.

Separate accounts lodged show that Mr Chawke's decision to expand his pub empire during the recession has paid off with accumulated profits at his Seasons Inn Ltd firm increasing sharply last year.

Accounts filed by Mr Chawke's Searsons Inn Ltd, which operate Season's on Baggot Street, show that the accumulated profits at the company increased by €369,000 from €731,356 to €1.1m in the 12 months to the end of September last.

The cash pile at the company rose from €975,882 to €978,993.

Numbers employed by that firm increased from 44 to 52 with with staff costs increasing from €947,451 to €1.15m.

Irish Independent

Business Newsletter

Read the leading stories from the world of Business.

Also in Business