Get the app today! Download iPhone App Download Android App

SUBSCRIBE

Pre-Tax Profits Rise At Co. Cavan's Slieve Russell Hotel

Published on Oct 31 2019 11:39 AM in Hotel tagged: Trending Posts / Slieve Russell Hotel

Pre-Tax Profits Rise At Co. Cavan's Slieve Russell Hotel

New accounts for Slieve Russell Hotel Property Ltd have revealed that pre-tax profits at Co. Cavan's Slieve Russell Hotel rose more than threefold to €2.9 million last year as a result of the reversal of a €2.37 million prior year non-cash impairment.

Meanwhile, revenues at Slieve Russell Hotel Property Ltd decreased from €14.8 million to €14.66 million; the company's gross profit decreased from €4.19 million to €3.94 million; its operating profit amounted to €3.5 million, with interest charges of €660,000 reducing its pre-tax profits to €2.9 million; and the number of people employed by the company decreased from 233 to 222, with staff costs dropping from €6.43 million to €6.45 million, as reported by The Irish Independent.

Directors' Comment

The company's directors said that "the hotel traded very well in 2018, with the corporate and meeting business outperforming budgets and contributing strongly to 2018 profits".

© 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.

Advertising
Share on Facebook Share on Twitter Share on LinkedIn Share via Email