O’Regan’s pubs profit declines 22% in 2014

Pre-tax profits at the flagship pub and restaurant business operated by one of the country’s best known publicans, Declan O’Regan, last year declined by 22% to €919,507.

O’Regan’s pubs profit declines 22% in 2014

Accounts filed by O’Regan’s Telfer Ltd that operates Hogan’s bar and L’Gueueleton restaurant on Dublin’s South Great George’s St show the firm’s pre-tax profits fell from €1.18m to €919,507 in the 12 months to the end of May 2014.

Mr O’Regan is a brother of the late entrepreneur and publican Hugh O’Regan.

The figures show that the firm’s pre-tax profits decreased as its gross profits remained static at €5.2m.

According to the directors’ report, the directors are satisfied with the year’s results.

The directors state they “are confident that turnover can be increased during the coming year and anticipate that profitability can be maintained”.

Telfer Ltd also operates O’Regan’s Kelly’s boutique hotel on South Great George’s St. Mr O’Regan had also expanded his business interests in the area by opening a bar and restaurant at the nearby Drury Buildings.

Numbers employed by the company last year remained static at 90 with staff costs going up marginally from €2.19m to €2.29m. Staff numbers were broken down into 80 in sales and 10 in management roles.

Mr O’Regan and the only other director of the company, Maeve O’Meara, shared remuneration of €168,55 last year. The firm’s profits take account of non-cash depreciation costs of €463,910.

At the end of May 2014, the firm had shareholder funds totalling €11m that included €4.7m in accumulated profits.

The firm’s cash during the year decreased sharply going from €1.4m to €546,567.

The accounts show that the firm recorded an operating profit of €1m. However, an exceptional cost of €30,203 concerning a provision against inter-company balances reduced profits.

The firm’s capital expenditure totalled €5.3m in 2014 following €43,584 spent under that heading in 2013.

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