New acccounts for FBD Hotels and Resorts have revealed that the firm's operating profits rose by 44% to €8 million last year while its revenues rose 38% to €73.4 million.
Additionally, the company's earnings before interest, tax, depreciation and amortisation (EBITDA) came to €12.6 million in 2018, which was a 34% increase on the €9.4 million recorded in 2017; staff costs increased to €24.8 million; and the company paid a dividend of €3.63 million.
FBD's portfolio includes Co. Waterford's Faithlegg House Hotel and the Castleknock Hotel of Dublin.
As reported by The Irish Independent, FBD's directors' report stated, "Faithlegg continued to make good progress and recorded a profit of €1.3 million, which represents a profit of €16,000 per room."
The directors' report also stated that the Castleknock Hotel's performance last year "was excellent and ahead of expectations".
© 2019 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.