Profits up as pints are downed at Dail bar
CHEAP pints and tales of political intrigue proved to be the recipe for success at the Dail bar last year as revenues and profits increased.
According to annual accounts for the Dail bar released by the Houses of the Oireachtas Service, they show that profits at the bar increased by 5pc from €138,600 to €145,623 in the 12 months to the end of December last.
This follows revenues increasing marginally from €299,913 to €300,252.
Of course, the healthy profits of recent years at the Dail bar may be put at risk if the electorate decides to axe a sizeable portion of the bar's customer base – the 60 senators that currently occupy seats in the Seanad.
The Dail bar beats local competition on price for its alcohol – customers to one of the most celebrated bars in the country can avail of cut-price beer with a pint of Guinness costing €4.30 and a pint of Heineken costing €4.70 – this compares to €4.80 sought for a pint of Guinness and €5.20 sought for a pint of Heineken in Dublin city centre pubs.
The bar increased its profits in spite of sales of Guinness and Heineken dropping last year.
Figures previously released in responses to a Freedom Of Information request show that the number of Guinness kegs sold dropped from 120 to 98, while the number of Heineken kegs sold dropped from 55 to 44.
The annual accounts show that the Dail restaurant is a far busier operation where sales of €919,353 were recorded last year – down slightly in the sales of €928,243 recorded in 2011.
The profit from the restaurant last year totalled €152,332 compared to €122,669 in 2011.
The bar, however, is a far more profitable enterprise enjoying a gross profit margin of 56pc compared to 39pc at the restaurant.
The combined profit from the bar and restaurant totalled €297,946 compared to €261,269 in 2011 – an increase of 14pc.
The restaurant operation last year cut back on its sundry expenses that included a cut in spending on its newspapers going from €5,017 to €4,635.
The figures show that the bar and restaurant repaid €220,000 to the Department of Finance leaving accumulated profits standing at €318,962.