Monday 18 December 2017

Profits soar to €3.2m as tourists drink in the Temple Bar atmosphere

The Temple Bar in Dublin. Photo: GETTY
The Temple Bar in Dublin. Photo: GETTY

Gordon Deegan and Gavin White

The Licensed Vintners Association (LVA) has said it comes as no surprise one of Dublin's most iconic pubs is also one of the country's most profitable.

The company that operates the Temple Bar in Dublin saw pre-tax profits soar 19pc to €3.2m last year.

Donal O'Keefe, CEO of the LVA, said "the heart of Dublin city" is benefiting from a big economic recovery over the past few years.

The multi-award winning Temple Bar watering hole is a haven for tourists throughout the year. It has its own merchandise shop adjacent to the pub selling luxurious Irish brands.

However, with a pint of Guinness coming in at €6.50 after 11pm, it is hardly surprising the pub has been doing so well. "Tourist pubs have been doing extremely well since the recovery and late night pubs have also been doing very good as the numbers have gone up," Mr O'Keefe said.

The Dublin pub has been showing huge profits compared with some of its biggest competitors. For example, three of Charlie Chawke's seven Dublin pubs, the Bank, the Dropping Well, and the Goat Grill, recorded combined profits of €780,884 last year.

In a bumper year for Temple Inn Ltd, its gross profit jumped by 17pc, or €1.48m, from €8.8m to €10.3m in the 12 months to the end of October last.

The pub has enjoyed significant expansion in recent years and in 2015 added a distillery store that serves Irish, Scottish and very rare whiskeys.

The two directors of the firm are Tom and Jackie Cleary, who have their home at one of the country's most exclusive addresses at Ailesbury Road in Dublin 4.

Mr O'Keefe told the Irish Independent that pubs were thriving "despite the potential impact of Brexit".

Irish Independent

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