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Dublin's Mespil Hotel Records Pre-Tax Loss For Its Last Financial Year

Published on Aug 23 2021 8:02 AM in Hotel tagged: Featured Post / Mespil Hotel

Dublin's Mespil Hotel Records Pre-Tax Loss For Its Last Financial Year

Dublin's Mespil Hotel has recorded a €368,080 pre-tax loss for its last financial year.

As reportedly by The Irish Independent, according to new accounts, Mespil Hotel Ltd in Dublin 4 recorded the pre-tax loss along with a 63% decrease in revenues to €4.76 million.

The €368,080 loss for the 12 month period that ended on September 30, 2020, reportedly followed a pre-tax profit figure of €3.9 million that was recorded for the previous year.

The loss recorded for the company's last financial year reportedly takes account of non-cash depreciation costs of €653,459.Top of Form

The company reportedly paid dividends of €500,000 last year after paying dividends of €4 million in 2019.

The accounts reportedly also reveal that the company received €153,534 in "other operating income" during its last financial year; the number of people employed by the company decreased from 81 to 66; staff costs decreased from €4.13 million to €2.46 million; and directors' pay including pension contributions decreased from €628,213 to €424,878.

Directors' Statements

The company's directors reportedly said that trading last year was significantly impacted by the COVID-19 pandemic, and that, despite the partial lifting of pandemic-related restrictions, trading levels have continued to be low since year end.

The directors reportedly said that the company entered its current financial year in a very strong financial and cash-flow position, and that the primary action is to protect the business through active engagements with customers and suppliers and to preserve available cash resources.

The directors reportedly stated that cost reduction measures and related steps include a reduction in employees and working hours, and the claiming of available government subsidies and other supports such as tax warehousing.

© 2021 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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