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Revenues Decline At Molloys, But Group Remains Profitable

Published on Jan 8 2019 10:38 AM in Pub/Bar/Nightclub tagged: Trending Posts / Molloy's

Revenues Decline At Molloys, But Group Remains Profitable

Recently filed accounts for off-licence and pub group Molloys have revealed that its revenues decreased 14% to just over €17 million during the year to the end of January 2018.

The Irish Times reports that despite the drop in revenues, Molloy Holdings remains in a stable financial position, with net assets of €18.2 million and a pre-tax profit of €289,000. The group's directors stated that they are "satisfied" with its performance.

Staff Numbers And Investment Properties

Meanwhile, staff numbers at Molloys, which runs seven off-licences around Dublin as well as a major pub complex in the Dublin suburb of Tallaght, decreased from 128 to 105 during the period, and the group recorded a €225,000 gain on the sale of an investment property.

The group's investment portfolio was recently valued at €6.4 million on the basis of its €600,000 rent roll.

© 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.

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