Fitzgerald's pubs group back to profit
The largest entity in the Louis Fitzgerald pub and hotel group last year returned to profit with pre-tax profits of €7.8m.
Fitzgerald's Burtse Ltd counts the Quays Bar, the Big Tree and Kehoes among its best performers and revenues at the Burtse group of companies soared by 94pc, going from €29.77m to €57.77m in the 12 months to the end of December last.
The prior year was for a seven-month period and the Burtse business also includes the operation of the Louis Fitzgerald hotel in Dublin. The company that operates Kehoes in Dublin, Trimblegrove recorded profits of €668,175 last year while the Louis Fitzgerald Hotel Ltd recorded profits of €977,019.
The Fitzgerald entity, Shelbourne O'Brien Ltd, which operates the well-known Stag's Head pub recorded profits of €551,910 last year and was sitting on shareholder funds of €10.25m at year end.
Brantive Ltd operates the Big Tree pub and it last year recorded profits of €210,104 for the year and had shareholder funds of €4.6m at year end. A breakdown of the Burtse group revenues show that €29.9m was from bar income with €12.8m from food and €10m from accommodation.
The business's off-licence business generated €2.25m while night club generated €504,235 and 'room hire' generated €524,562.
Numbers rose from 321 to 612 with €14m paid out in staff costs. Directors' remuneration stood at €432,884.
According to the directors' report actions taken to reduce costs, introduce improved working practices and efficiencies and develop new marketing strategies will ensure that the underlying business will remain profitable.