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Kylemore Abbey Nun's Trust Enjoys 2017 Financial Success

By Dave Simpson

Despite recent news that maintenance costs and investment at Co. Galway's Kylmore Abbey caused the tourist attraction's profits to drop by approximately €100,000 in 2017, it's now been revealed that the nuns' trust that owns the property enjoyed a €1.375 million windfall last year.

According to The Irish Independent, new accounts indicate that the Benedictine nuns-owned trust, Kylemore Trust, charged €800,000 in rent to the Kylemore Abbey and Gardens in 2017. Kylemore Trust also received a charitable donation of €575,000 from the company last year.

Pre-Tax And Gross Profit

Additionally, the nuns' Kylemore Abbey and Gardens Ltd firm recorded a pre-tax profit of €11,639 in 2017, with the firm's gross profit rising from €5.2 million to €5.4 million.

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© 2018 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.

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