Wednesday 14 November 2018

Shanahan restaurant lands tasty profits

Good catch: Celebrity chef Martin  Shanahan’s renowned Fishy Fishy restaurant in Kinsale is going from strength to strength
Good catch: Celebrity chef Martin  Shanahan’s renowned Fishy Fishy restaurant in Kinsale is going from strength to strength

Gordon Deegan

TV chef Martin Shanahan landed a large catch of profits last year as those at his Kinsale Fishy Fishy restaurant totalled €182,833.

New accounts filed by Mr Shanahan's Kinsale Gourmet Store Ltd show that accumulated profits at the company last year increased from €1.863m to €2.046m.

The cash pile at the restaurant company totalled €421,074 at the end of December last.

He shot to fame in the RTÉ Cork series 'Martin's Mad About Fish'.

Mr Shanahan moved back to Ireland in 1991 and opened a gourmet store in Kinsale, Co Cork, which has morphed over time into a restaurant business that can now seat 160 people.

In 2015, Mr Shanahan added an extension to his restaurant and the investment continued to pay dividends last year.

The business has made consistently strong profits in recent years - the profits of €182,833 last year follow profits of €224,355 in 2016, profits of €390,809 in 2015 and €117,927 profits recorded in 2014.

The restaurant is recording far greater profits in recent years due to the growing popularity of the business - in 2013, profits increased by €71,136 and by €74,952 in 2012.

The value of the company's fixed assets increased going from €3.24m in 2016 to €3.37m last year. The amounts that the firm owes to creditors within one year increased from €2.17m to €2.19m.

Irish Independent

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