Pre-tax profits at Mespil Hotel slip

Pre-tax profits at the four- star Mespil Hotel in Dublin 4 last year slipped marginally to €813,858.

According to accounts filed by Mespil Hotel Ltd, the firm recorded the drop in profits due to higher maintenance and room improvement costs.

The firm recorded the decrease in pre-tax profits in spite of the firm’s gross profit increasing by 10.5% from €5.1m to €5.6m in the 12 months to the end of Sept 30, 2012.

According to the directors’ report they “are satisfied with the outcome for the year and the outlook for the Dublin hotel market is positive”.

The report points out that all of the retained profits were applied towards servicing the company’s debt.

The figures show that last year’s profits resulted in the firm having accumulated profits of €16m.

The directors are listed as Lee Kidney, Denis Kidney, John Kidney and Martin Holohan and aggregate remuneration increased sharply from €183,710 to €329,525.

The filings show that the firm’s operating profit last year dipped €1m to €947,635 and net interest payments totalling €133,777 reduced the firm’s profits.