Croke Park firm ups profit to €8m

The firm that operates Croke Park last year marginally increased its operating profits to €8.057m in spite of the absence of concerts there in 2013.

In another stellar year for the firm that operates the 82,000-seater stadium, Croke Park hotel and other properties, stadium director and GAA commercial director, Peter McKenna, said that “in a year without the cream that concerts deliver, the Croke Park team delivered an exceptional performance”.

In contrast to last year, 2014 will provide an additional estimated €7m in rental income arising from the eight concerts from Garth Brooks and One Direction in May and July.

The stadium will also generate income from the American football game.

The figures for Páirc an Chrócaigh Teoranta and subsidiaries in the 10 months to the end of October last show that the lack of rental income from concerts contributed to revenues decreasing by 13% from €33.1m to €28.69m.

Last year Croke Park staged 64 games over 30 match days and one International Rules fixture with match day attendances at 1.142m.

The corporate sector continues to be an integral part of the Croke Park business generating €8.5m in income, or 43% of Croke Park’s income of €20.2m in 2013.

According to Mr McKenna “against market trends, our premium seats were all sold by the end of the year”.

Operating profits were reduced by €512,382 in interest payments and a €600,000 impairment charge.

The group allocated a €4m grant to the GAA to give a pre-tax profit of €2.945m.

This was only marginally down on the €3.08m pre-tax profit in 2012.