Saturday 24 February 2018

Operating losses more than halved at Mount Juliet

Mount Juliet
Mount Juliet

Operating losses at five-star hotel and golf resort Mount Juliet more than halved in 2013 to €1.65m as revenues increased.

Last year, entrepreneur Emmet O'Neill and Brehon Capital Partners sealed a deal to buy the resort for an estimated €15m.

The operating losses of €1.65m followed operating losses of €3.3m in 2012.

The firm sharply reduced its operating losses after revenues increased by 11.5pc from €7.18m to €8m.

It recorded a pre-tax profit of €869,178 after an exceptional net gain of €2.52m arising from €9.7m debt forgiven by group companies and an asset write-down of €7.2m.

The directors forecast additional losses in 2014.

A total of 134 people are employed with staff costs of €4.67m.

Irish Independent

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