Business Irish

Wednesday 16 January 2019

Druids Glen returns to pre-tax profit of €978,000

Tee time: The 8th hole at one of the two golf courses at the Druids Glen resort
Tee time: The 8th hole at one of the two golf courses at the Druids Glen resort

Gordon Deegan

The firm behind the Druids Glen hotel last year returned to pre-tax profit to record profits of €978,887.

The 349-acre hotel and resort in north Co Wicklow was put on the market earlier this year for €45m.

Now, new accounts for the Obalus Hotel Company Ltd show that the 145-bedroom hotel business at the resort achieved the pre-tax profit after revenues increased by 6pc from €12.13m to €12.67m.

The company recorded the pre-tax profit of €978,887 after a pre-tax loss of €1.39m in 2016 that arose from exceptional costs of €2.77m.

According to the directors' report, the hotel continued to trade strongly in 2017 reporting an operating profit of €1.3m.

The directors add that "2018 is already proving to be a strong year".

Irish Independent

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