Profits Rise At Garvey Hotel And Retail Group

By Dave Simpson
Profits Rise At Garvey Hotel And Retail Group

New accounts filed by Commidare Holdings Ltd have revealed that pre-tax profits at the Co. Kerry-based Garvey hotel and retail group increased 176% to €5 million last year while revenues rose 3.5% to €121 million.

According to The Irish Independent, operating profit at the Garvey group, which consists of two hotels in Dingle as well as nine SuperValu stores in the south-west, increased 18% to €4.15 million during the year ending on January 6, 2018, with corporation tax payments of €733,370 resulting in a post-tax profit of €4.29 million.

Staff Costs And Directors' Remuneration

Meanwhile, the number of people employed by the group grew from 767 to 774 last year with staff costs increasing from €15.46 million to €16.32 million and directors' remuneration rose from €634,427 to €640,155.

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