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.
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