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Pub/Bar/Nightclub

Copper Face Jacks’ Pandemic Revenue Impact Revealed

By Dave Simpson

Copper Face Jacks experienced a €20.7 million cumulative revenue hit during the Covid-19 pandemic.

Details

As reported in the Irish Independent, new accounts have revealed that Copper Face Jacks’ firm, Breanagh Catering, experienced average daily nightclub revenues of €26,721 last year.

The nightclub was open for just 51 days during the 12-month period that ended on 30 January 2022, due to Covid-19 restrictions.

Additional Data

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According to the Irish Independent, the Breanagh Catering accounts reveal that it amassed €1.33 million in nightclub revenues last year, as well as accommodation sales of €63,632. Its revenues for last year amounted to €1.39 million, meaning that it experienced a revenue hit of approximately €10.2 million, following pre-pandemic revenues of €11.6 million and a €10.5 million revenue hit in the pandemic’s first year. It experienced €522,782 in pre-tax losses last year, following €1.51 million in pre-tax losses the previous year; its staff count decreased from 80 to 36 members last year, following a staff count of 173 before the pandemic; staff costs decreased to €1.72 million, from €1.99 million; directors’ pay decreased to €254,832, from €381,393; and ‘other operating income’ amounted to €789,239. The loss takes account of €707,682 in non-cash depreciation costs – it experienced a €333,487 post-tax loss after recording a €189,295 corporation tax gain – its accumulated funds amounted to €10.32 million at the end of January of this year, and its cash pile rose to €1.17 million, from €122,269.

© 2022 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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