Saturday 24 August 2019

Ireland's best known nightclub turns 'Coppers' into gold as cash pile jumps to €55m

Copper Face Jacks on Dublin’s Harcourt Street
Copper Face Jacks on Dublin’s Harcourt Street

Gordon Deegan

The country's best-known nightclub turned 'Coppers' into gold last year as its cash mountain soared to a whopping €54.8m.

New accounts for the company that operates Copper Face Jacks on Dublin's Harcourt Street show that the millions continued to roll in for the night spot as its pre-tax profits last year totalled €5 million - or €97,657 per week.

Boosted by the Dubs' All-Ireland senior football win in September of last year and a booming night-time scene in the capital, the figures show that Breanagh Catering recorded the increased profits in the 12 months to the end of January 31 this year following the firm enjoying buoyant gross profits.

The accounts show that the firm's gross profit - that includes 'other operating income' - increased by 8.6pc going from €10.45m to €11.35m. 

In another stellar year for the storied night-club owned by the low-profile Cathal Jackson and Paula Jackson, the company's pre-tax profits of €5m follow pre-tax profits of €4.9m in 2014.

The €5m in profits last year resulted in the company having accumulated profits of €67.58m at the end of January last.

The club - owned by former Garda Mr Jackson and housed in the Jackson Court Hotel on Dublin's Harcourt Street - has long since entered Dublin night-time folklore. Known as 'Coppers', it has amassed the massive cash pile over the years as a result of its enduring popularity.

The night-spot recently hosted a number of scenes in RTE's top-rated 'Can't Cope, Won't Cope' series while 'Late Late Show' host, Ryan Tubridy decamped there with Olympic heroes, Gary and Paul O'Donovan, Annalise Murphy and Michael Conlan along with comedian Al Porter after a show in September.

In the 12 months to the end of January of last year, Breanagh Catering's cash pile jumped by €3.78m from €51m to €54.8m.

The nightclub operates seven nights a week and contains six bars, two covered beer gardens, a cocktail bar and a premium level that is made of a private room aimed at hosting private parties.

The nightclub area also boasts a cocktail bar, VIP bar and private booths, as well as a fully covered beer garden.

Numbers employed by the firm last year increased from 193 to 195 with 189 in retailing and six in administration.

The accounts signed off on November 28th by Cathal and Paula Jackson show that the profit last year takes account of non-cash depreciation costs of €723,540. The firm's operating profit last year was €5.8m. The firm paid corporation tax of €815,465. As a result the firm enjoyed post tax profits of €4.26m.

At the end of January last, the firm's tangible assets had a book value of €13.17m.

The directors' pay for the Jacksons is not disclosed for last year or the previous year - however, in 2014 they paid themselves over €10,000 per week when they shared €611,786 in pay.

The company's administrative costs last year increased from €4.96m to €5.55m.

Copper Face Jacks is one of a number of night-spots along Harcourt Street, which attracts tens of thousands of revellers each weekend.

Irish Independent

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