Pre-tax profits rose 67% to €834,879 at Co. Kilkenny's Lyrath Estate Hotel last year while revenues at Lyrath Demesne Ltd rose 8.5% to €12.7 million.
Meanwhile, the number of people employed by Lyrath Demesne Ltd decreased from 202 to 199 last year; the company's staff costs increased from €4.7 million to €5.14 million; its gross profit came to €10.36 million; administrative costs of €8.87 million resulted in an operating profit of €1.49 million; and post-tax profits amounted to €650,028 following a €184,951 tax payment.
Cash Pile And Shareholder Funds
Additionally, the company's cash pile increased from €717,809 to €758,767 and its shareholder funds amounted to €4.17 million at the end of last year.
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© 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.