Doheny & Nesbitt pub profits lose their froth

Doheny & Nesbitt pub profits lose their froth

Profits at landmark Dublin pub Doheny and Nesbitt last year decreased by 18.5% to €237,782.

Newly-filed accounts for the pub’s operating company Swigmore Inns Ltd show that investment costs pulled the profits down, during the 12 months to the end of last January, but the pub’s revenues increased.

The pub’s accumulated profits last year increased from €3.56m to €3.8m.

Doheny & Nesbitt, on Dublin’s Baggot Street, was the first pub in Ireland to exchange hands for over £1m, when the Mangan brothers, Tom and Paul, purchased the premises in 1987.

The pub’s owners said they have been very happy with the performance of the pub — which employs 50 people — this year.

An increased food, wine and whiskey offering have boosted customer numbers, they said.

The pub has expanded in recent years with the opening of a cellar bar to deal with the crowds attending the pub.

Doheny & Nesbitt has long been a favourite haunt of politicians from nearby Leinster House and of lawyers, architects and actors, along with visitors from around the globe.

Doheny and Nesbitt is the flagship operation of the Mangan pub group, which also operates Smyths in Ranelagh.

The Swigmore accounts show that the company’s cash totalled €29,617 at the end of its last financial year, while the amount owed to the company by debtors totalled €1.98m.

Last year’s profits take account of non-cash depreciation costs of €79,869, the accounts show.

More on this topic

Bank shares enjoy ratings boostBank shares enjoy ratings boost

Flat-rate expenses decision deferred for yearFlat-rate expenses decision deferred for year

Downturn didn't stop CloudCIX expandingDownturn didn't stop CloudCIX expanding

HR body warn against employers putting on free bar at Christmas partyHR body warn against employers putting on free bar at Christmas party

More in this Section

Official: 'Banks are starting to forget hurt caused by financial crisis'Official: 'Banks are starting to forget hurt caused by financial crisis'

Downturn didn't stop CloudCIX expandingDownturn didn't stop CloudCIX expanding

HR body warn against employers putting on free bar at Christmas partyHR body warn against employers putting on free bar at Christmas party

Employment numbers up by 63,000 in 2018; Live Register figures down by 1.2% in NovemberEmployment numbers up by 63,000 in 2018; Live Register figures down by 1.2% in November


Lifestyle

The Marquee in Cork dominated the gig news this week, with a string of announcements for what is expected to be the final year at the Monahan Road venue before the site is developedScene + Heard: The most played artist on Spotify and all the latest music news

Esther N McCarthy picks perfect paperweights, brilliant books and Christmas collectables this week.Brilliant books and Christmas collectables - here's our wish list

John Spillane tells Ellie O’Byrne how he’s hoping to fund his next album by taking the bardic route of writing unique compositions for people on whatever they’d like‘I’ll write you a song for €1,000' - John Spillane's unique way to fund new album

From starring in a Cork-set film, to securing a role in Ridley Scott’s major new HBO series, it has been quite a year for Niamh Algar, writes Esther McCarthyIreland’s next big thing: Niamh Algar on her incredible year

More From The Irish Examiner