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O'Dwyer empire losses narrow

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Liam O'Dwyer is one half of the team who created the O'Dwyer pub empire

Liam O'Dwyer is one half of the team who created the O'Dwyer pub empire

Liam O'Dwyer is one half of the team who created the O'Dwyer pub empire

PRE-TAX losses at the slimmed-down O'Dwyer hotel and pub group narrowed sharply to €4m in 2012, new accounts show.

The pub empire that brothers Liam and Desmond O'Dwyer created was broken up in 2009 when a bank receiver was appointed to three of their pubs – Cafe en Seine, The George and Howl at the Moon – all in Dublin.

They continued to operate Break for the Border, the Dragon Bar and the Grafton Capital Hotel. It sold Trinity Capital Hotel for a reported €35m to US billionaire John Malone.

In Toji Holdings Ltd's accounts, pre-tax losses narrowed from €10m to €4m as revenues increased 4pc to €26.29m in the 12 months to the end of September 2012.

The chief factor behind the sharp drop in losses was a €4.4m impairment of fixed assets in 2011 not reoccurring in 2012. Employees increased from 304 to 307, with staff costs decreasing from €7.7m to €7.3m.

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