Pre-tax profits at iconic Dublin pub soared to €3.4m last year
The company behind one of Ireland's most iconic pubs, the Temple Bar pub in Dublin's tourism district, continued to enjoy stellar results last year as pre-tax profits increased to €3.4m - or €65,575 each week on average.
The pre-tax profits at Temple Inns Ltd in the 12 months to the end of October last represented a 3pc increase on the pre-tax profits of €3.29m in 2016.
The prices for beer at the popular pub do little to deter the thousands of tourists and locals descending on it every week.
Punters can pay €7.95 for a late-night pint of Heineken with a late-night pint of Guinness costing €6.95.
Gross profits increased to over the €11.1m mark - up 7.7pc on the €10.34m gross profit in 2016. The multi-award winning Temple Bar pub also has its own merchandise shop adjacent to the bar, selling Irish brands.
The two directors of the firm are Tom Cleary and Jackie Cleary and their aggregate remuneration last year declined from €337,197 to €324,055.
At the end of October last, the group had accumulated profits of €13.97m.
The directors' report said the company traded strongly during the year with the benefit of new outlets for the retail business.
The cash pile last year increased from €4.76m to €4.93m. Staff costs, including directors' salaries, last year increased from €2.26m to €3.4m.
The company incurred net interest payments of €404,980.