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Fade Street bar is back in black

THE Dublin bar which was at the centre of the RTE Fade Street reality series returned to profit in 2010, new figures show.

According to accounts lodged by Mercroft Taverns Ltd for the Market Bar in the city centre, the firm recorded a pre-tax profit of €295,087 following a pre-tax loss of €409,002 in 2009.

The well-known Dublin restaurant and pub is controlled by entrepreneurs Jay Bourke and John Reynolds, who promotes the Electric Picnic music festival and is a nephew of former taoiseach Albert Reynolds . Mr Bourke has a number of interests in the hospitality sector.

The results show that gross profit fell by 15pc from €1.92m to €1.62m in the 12 months to the end of December 2010.