Owners Of The Bridge 1859 Pub Of Ballsbridge, Dublin, Shared €120k In Dividends And Ambassador Fees During Year That Ended On February 29, 2020
The owners of The Bridge 1859 of Ballsbridge in Dublin shared €120,000 in dividends and ambassador fees during the year that ended on February 29, 2020.
As reported by The Irish Times, four of the pub's owners, Rob Kearney, Dave Kearney, Jamie Heaslip and Sean O'Brien, are rugby stars, and they have shares in both The Bridge 1859 and Dublin pub the Lemon & Duke in a venture with Noel Anderson.
According to The Irish Times, accounts for the company behind The Bridge 1859 company, Herbert Inns Ltd, for the year that ended on February 29, 2020, reveal that shareholders shared €100,000 in dividends for the year.
The Kearneys, Heaslip and O'Brien reportedly have a combined shareholding of 32.32% in the business, and Anderson, who is the chairman of the Licensed Vintners Association (LVA), owns the remainder.
The directors also reportedly received €20,000 in "ambassador fees", and Herbert Inns reportedly recorded profits of €284,233 for the 12 month period.
As reported last week, the company that owns Dublin pub the Lemon & Duke, The Inn On Hibernian Way, recorded a year-on-year increase in accumulated profits for the year that ended on February 29, 2020.
The Kearneys, Heaslip and O'Brien own a combined 38.76% of the Lemon & Duke business.
According to The Irish Times, Herbert Inns' accumulated profits stood at €1.32 million.
The Irish Times quotes Anderson as saying that he has "been to hell and back" over the past year due the impact that the COVID-19 pandemic has had on the business, and that before the pandemic, "we were going to go into the busiest year the two businesses ever had with all the events that were due to take place - the American Football, the Euros in Ballsbridge, the concerts, tourism booming -and then the world decided to cave in some shape or form".
Anderson reportedly said that his four fellow directors are very supportive.
The Irish Times quotes Anderson as saying, "Rob is in Australia, Sean is in London. Dave and Jamie are around. I speak to Jamie and Dave on a regular basis."
Speaking about pre-pandemic profits for each pub, Anderson reportedly said, "We won't get back to those numbers anytime soon, but we will get back."
Anderson also reportedly said that bookings were strong ahead of pubs being permitted to reopen for business on June 7.
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