Mount Juliet Reports Decline In Losses And 'Hopes To Return To Profitability This Year'

By Publications Checkout
Mount Juliet Reports Decline In Losses And 'Hopes To Return To Profitability This Year'

Newly-filed accounts for Kilkenny's five-star Mount Juliet Hotel show it saw a big drop in pre-tax losses to €1.9 million last year and that it 'hopes to return to a modest level of profitability this year', according to a spokesperson.

The accounts show that the hotel's pre-tax losses, which took into account 'restructuring charges' of €538,167, were reduced by 23 per and that revenues increased by 5 per cent to €9.47 million, reports The Irish Examiner. The hotel reduced its number of employees from 136 to 127 with staff costs decreasing from €5.29 to €4.98 million last year.

"Operating losses reduced substantially in the period. Trading in 2016 has been positive across our markets and we hope to return to a modest level of profitability this year. Since our acquisition in 2014, we have invested an additional €6 million, including refurbishment of the Manor House, building a brand-new clubhouse and restoring the condition of the golf course," commented the spokesperson.

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