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€647k profit boost for Clontarf Castle

CLONTARF Castle hotel has returned to the black, posting a profit of €647,000, compared to a €500,000 loss the previous year.

The company, which is owned by investors including DID Electrical founder Gerry Houlihan, saw gross profit drop by 15pc in the 12 months until year end.

But due to a 29pc cut in administrative expenses to €6.7m, the company returned an operating profit of €1.2m.

This compared to an operating loss of €63,000 a year earlier, in a difficult hotel market.

Owners said that these cost-cutting measures included pay cuts, some redundancies, but primarily driving greater efficiencies.