Gresham checks out of 2003 €1.7m in profit

GRESHAM HOTEL GROUP, currently in the grip of another round of takeover talks, has announced it has boosted pre-tax profits by 40% to €1.7 million before exceptionals for last year.

This figure compares with the 11 months accounting period to end 2002.

Turnover was down however, from €50.7m to €47.9m due to the impact of the sale of the three Ryan hotels in Galway, Limerick and Killarney for more than €35m.