Sunday 18 August 2019

Dubliners and visitors keep profits pouring in at O'Donoghue's

Famous: O’Donoghue’s pub on Merrion Row in Dublin
Famous: O’Donoghue’s pub on Merrion Row in Dublin

Gordon Deegan

Profits at O'Donoghue's, one of the country's most storied pubs, last year increased by 52pc to €521,152.

In a bumper year for the business, the profit in 2018 at O'Donoghue's (Merrion Row) Ltd was an increase of €179,998 on the €341,154 profits recorded in 2017.

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The profits at the Dublin pub firm last year resulted in accumulated profits at the company increasing from €1.04m to €1.56m

The company's cash pile increased sharply from €2m to €2.69m.

The pub is owned and operated by the Barden family and Carol Barden yesterday: "We were very happy with last year's trading in a very competitive market."

She added: "We are very lucky to have a great hardworking team and a customer base that is a mix of locals and visitors."

Numbers employed at the company last year remained static at 18.

Remuneration for directors declined from €605,555 to €354,859 made up of €154,859 in pay and €200,000 in pension contributions.

The pub has long been associated with traditional Irish music and the Dubliners in particular who began to play there in the 1960s.

Oliver Barden purchased the pub in 1988 and shareholder funds at the company last year totalled €8.9m that included €7.4m in a revaluation reserve and the accumulated profits of €1.56m.

The profit takes account of non-cash depreciation costs of €210,882.

Irish Independent

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