Michelin-star Dublin restaurant Chapter One’s profits increase

The Michelin-star Dublin restaurant Chapter One has increased its accumulated profits to €308,734.

Michelin-star Dublin restaurant Chapter One’s profits increase

New accounts for the Parnell Square restaurant, which is just one of nine Michelin-starred restaurants in Ireland, showed its cash pile jumped to €622,857 in the 12 months to the end of February this year, from €455,5389 a year earlier.

Along with Kevin Thornton, who this week announced the closure of his famed Thornton’s restaurant, Chapter One co-owner Ross Lewis has long been known as one of Ireland’s best chefs.

Accumulated profits at the Chapter One business, Lindley Ltd increased by €19,090 to €308,734.

Full accounts filed a year ago by error gave a rare insight into the earning power of a Michelin star restaurant, showing revenues of over €2.69m at Chapter One in 2015.

The detailed accounts were subsequently withdrawn for abridged accounts, which don’t provide sales figures.

This year’s profit came after the firm posted a small loss of €595 in 2015.

The return to profit followed Mr Lewis and fellow shareholder Martin Corbett slashing their aggregate pay to €262,088 from the €530,434 paid out a year earlier.

The accounts confirm that Mr Corbett resigned from the board in May of this year.

Mr Lewis expanded his food operation by opening Italian restaurant Osteria Lucio on Dublin’s Grand Canal Quay.

The Chapter One restaurant employs 33 people.

Last year, its staff costs totalled €994,561.

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