Porterhouse Group 'Performed Very Well Last Year', Reports Increase In Profits
The firm that operates Lillie's Bordello and Porterhouse Central has recorded operating profits of nearly €120,000 last year.
Newly-filed accounts for Noyfield Ltd show that the business recorded a loss of €208,281, which includes a non-cash depreciation charge of €325,000, resulting in an operating profit of €118,719 in the 12 months to the end of February reports The Irish Examiner. Noyfield's staff numbers remained at 48 with staff costs totalling €1.66 million.
Accounts filed for Iskasinc Ltd, operator of Porterhouse Temple Bar, show it recorded a profit of €213,566 last year, employing 40 staff at a cost of €1 million.
Commenting on the results for Noyfield and Iskasinc, the group's business development director, Elliot Hughes, said Lillie's Bordello and Porterhouse Central are "two of its most important flagship premises” and that "the group is very encouraged both sites are running at a profit before depreciation and amortisation and continuing to grow year-on-year”.
He added that "the growth of tourism and the craft beer sectors in particular in Ireland has been extremely good news for the Porterhouse Group” and that it has “performed very well last year” as it saw an increase in trade on the previous years.
“The Porterhouse Group have excellent plans for growth in 2017 with our new brewery coming on board during the year which will allow us to grow our beer sales domestically and with export, a bar in New York as well as a couple of ventures in Ireland we are actively looking at,” he said.