New figures lodged with the Companies Office have revealed that pre-tax profits rose 56% to €39.6 million at the Byrne Hotel Group in 2018.
The group's post-tax profits amounted to €28.8 million following a corporation tax payment of €10.8 million. Meanwhile, revenues amounted to €18.52 million.
Additionally, the number of people employed by the group decreased from 77 to 73; staff costs came to €2.3 million; directors' pay amounted to €750,000; operating profit totalled €11.59 million; the group's cash pile decreased from €17.2 million to €16.6 million; the group received dividends of €10.67 million; and its shareholder funds total €204 million, as reported by The Irish Independent.
The Byrne Hotel Group operates Galway's Victoria, Eyre Square and Salthill hotels, Dublin's Albany House hotel, and the Best Western Appleby Park Hotel in the UK.
© 2020 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.