Losses mount at Shannon Heritage
Losses at the firm that operates Bunratty Castle and Folk Park doubled last year to over €400,000 in spite of visitor numbers to Shannon Heritage sites climbing to over 900,000.
Part of the Shannon Group, Shannon Heritage operates a number of visitor attractions in the Midwest and Dublin and its losses for 2016 are revealed in a new Labour Court recommendation that Shannon Heritage staff received unpaid 2014 increments.
In arguing against the payment of the increment, Shannon Heritage stated that its financial position has deteriorated further with losses of over €400,000.
This followed losses of over €200,000 in 2015.
In the case, trade union Siptu was seeking the payment of unpaid increments for 2009, 2010, 2011 and 2014. Shannon Heritage put the cost of paying the increments at €1.45m with an ongoing annual pay rises of €256,604.
The Labour Court recommended that increments be paid for 2014 only with full retrospection to 2014 within eight weeks of its ruling.
A spokeswoman for Shannon Heritage said yesterday it is reviewing the recommendation and its implications.
She said that "Shannon Heritage recorded an uplift in its turnover in 2016, however rising payroll costs in the business resulted in an increased cost of €500,000.
In addition, Shannon Heritage also undertook a capital investment programme last year.