Fine dining beats recession as profits surge at Guilbaud's
The country's top-rated restaurant shows that there is no recession in fine dining with sales rising 10pc last year compared to the previous year as more people dine out.
Restaurant Patrick Guilbaud is the country's only two Michelin-starred restaurant and accounts just filed by the holding company Becklock show that its accumulated profits increased from €221,550 to €276,002 in the year to the end of August last – an increase of €54,452.
This followed the company increasing its profits by €19,000 in 2011.
Well-known businessmen, Lochlann Quinn and Martin Naughton have shares in Becklock and other shareholders to sit on the board are Mr Guilbaud, renowned chef, Guillaume Lebrum and Stephane Robin.
The abridged accounts provide very limited information, but company director, Mr Robin, said yesterday: "Last year was very good for us and this year is even better.
"I am very happy with business at the moment."
Mr Robin said that revenues at the restaurant last year increased by 10pc compared to the previous year with the restaurant projecting a further increase in 2013.
The figures show that the restaurant's cash pile last year increased from €216,286 to €342,777.
The 20-table restaurant is located beside Dublin's Merrion Hotel and Mr Robin said that the restaurant is back once again to its full staff complement of 40 that it had before the recession.
He said: "Revenues are up, but obviously costs are up as well."