Kylemore Abbey Nun's Trust Enjoys 2017 Financial Success
Despite recent news that maintenance costs and investment at Co. Galway's Kylmore Abbey caused the tourist attraction's profits to drop by approximately €100,000 in 2017, it's now been revealed that the nuns' trust that owns the property enjoyed a €1.375 million windfall last year.
According to The Irish Independent, new accounts indicate that the Benedictine nuns-owned trust, Kylemore Trust, charged €800,000 in rent to the Kylemore Abbey and Gardens in 2017. Kylemore Trust also received a charitable donation of €575,000 from the company last year.
Pre-Tax And Gross Profit
Additionally, the nuns' Kylemore Abbey and Gardens Ltd firm recorded a pre-tax profit of €11,639 in 2017, with the firm's gross profit rising from €5.2 million to €5.4 million.
© 2018 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.