Richard Corrigan's Restaurant Group Records £25k Pre-Tax Profit
Accounts for Richard Corrigan's UK and Ireland restaurant group have revealed that the business recorded a pre-tax profit of £25,161 last year following a pre-tax loss of £397,753 in 2017.
A 20% rise in revenues at Corrigan's Virgina Park Lodge business contributed to the group's return to pre-tax profit. However, the group's overall revenues decreased by 4% from £11 million to £10.54 million last year, as reported by The Irish Times.
The group includes Virgina Park Lodge, Bentley’s Oyster Bar and Grill, Corrigan’s Mayfair, and Bentley’s Sea Grill at Harrods in London.
The group's accounts indicate that revenues at its London restaurants decreased by 10% from £8.78 million to £7.8 million last year.
Despite the drop in London venue revenues, Corrigan is planning to open a new pub-restaurant called Daffodil Mulligans in partnership with publican Tony Gibney in Shoreditch in east London next month.
© 2019 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.