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Pre-Tax Profits Rise At Connacht Hotel Parent Company

Published on Feb 19 2019 11:17 AM in Hotel tagged: Trending Posts / Connacht Hospitality Group / Connacht Hotel

Pre-Tax Profits Rise At Connacht Hotel Parent Company

New accounts filed by Connacht Hospitality Group Ltd, which operates Galway's Connacht Hotel, have revealed that the firm's pre-tax profits rose 8% to €1.5 million in 2017.

The accounts indicate that the company's revenues rose 58% to €20.46 million during the twelve months to the end of December 2017, with the number of people employed by the group rising from 231 to 307.

Staff Costs, Accumulated Profits And Cash Pile

Staff costs increased from €1.3 million to €3.9 million, while directors' pay decreased from €280,101 to €226,656.

The company's accumulated profits amounted to €4.3 million at the end of 2017, up from €2.92 million the previous year, and its cash pile increased twofold to €2.49 million.

© 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.

 

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