Top boarding school sees its revenues jump 7.5pc to €4.4m
Revenues at one of the country's most exclusive boys' schools, Glenstal Abbey, last year soared to €4.4m as the numbers of students attending continue to increase.
Parents looking to enrol their sons in the school have to stump up €18,950 a year for the seven-day boarding package, while annual day board fees total €11,350.
In spite of the hefty charges, numbers of students attending the Co Limerick school continue to increase, resulting in revenues last year increasing by €309,002 - or 7.5pc - from €4.1m to €4.4m in the 12 months to the end of June last.
Headmaster Fr William Fennelly said yesterday that 258 students are enrolled for the coming September. This represents an increase of 10 on the 248 last year.
The school takes on an average 40 first years every September. The school only introduced day boarders in 2012 and they now make one-quarter of the school population, contributing over an estimated €680,000 in school fees for this year.
"I believe the educational outcome of this place, shaped as it is by the community that dwells here, is worth the investment that parents make in it," Fr Fennelly said.
The school currently educates 188 boarders and 60 day boarders.
Staff costs at the school last year totalled €1.035m, with the numbers employed by the school increasing from 54 to 57. After total costs of €4.38m, the school recorded a modest surplus of €22,011.
Any surplus profits from the school firm are donated to the Glenstal Abbey Trust.