Langton’s sees earnings top €500k

One of the best known hotels in the country, Langton’s in Kilkenny city reported earnings of over €500,000 in 2013.

Hurling legend, Henry Shefflin recently chose the four-star hotel as the venue to announce his retirement from inter-county hurling and figures lodged with the Companies Office show Langton Hotel Ltd recorded earnings before depreciation interest, tax and amortisation (EBITDA) of €525,143 in 2013.

The figures show that the hotel recorded the earnings as the firm’s gross profits dropped marginally from €6.42m to €6.34m.

The accounts show that the firm recorded a pre-tax loss of €581,643. However, this takes into account interest payments of €156,577 and hefty non-cash depreciation costs of €793,632.

The principal activity of the firm is the operation of a hotel, bar and restaurant and according to the directors’ report “the results for the year and the financial position at the year end were considered satisfactory by the directors who expect continued growth in the foreseeable future.”

Langton’s houses a number of bars along with the Set Theatre that opened in 2009 and has played host to the likes of The Coronas and Imelda May, while Langton’s nightclub entertains thousands of revellers every week. The firm’s cash, during the year, increased from €839,956 to €964,252.

The company’s bank loans topped €4.4m at the end of December 2013. The firm’s net debt, at year end, topped €3.9m. Numbers employed increased from 165 to 174 and staff costs declined from €3.54m to €3.53m. Remuneration to directors fell from €286,465 to €194,222.