New accounts filed with the Companies Office by Orsen Ltd have revealed that pre-tax profits at pub and restaurant group Press Up increased to €1.86 million last year while revenues rose 32% from €43.9 million to €57.88 million.
As reported by The Irish Independent, the group’s earnings before interest, depreciation, tax and amortisation (EBIDTA) increased 54% in 2017, rising from €4.8 million in 2016 to €7.42 million, with the business paying out a €1 million dividend while shareholder funds amounted to €8 million, staff costs increased from €15.5 million to €18.7 million and the group’s cash pile grew to €2.2 million.
The directors stated, "All the businesses in the group traded well in 2017, with increased profitability across the board".
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© 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.