Profits increase at Ballymaloe House

Profits at Cork’s Ballymaloe House hotel last year almost tripled to €71,478.

Newly-filed accounts show that the Allen family- run business increased its revenues by €200,000, to €3.5m, during the 12 months to the end of last October.

The accounts for Ballymaloe’s holding company, Yeats Room Ltd, shows accumulated profits stood at €2.23m at year-end.

The company’s cash pile increased from €426,582 to €761,476 during the year.

Last year’s profits followed a surplus of €24,238 recorded in 2015.

Company director Hazel Allen said that management was “glad to report an upturn in business”.

Ms Allen said that as the firm is confident that 2017 will match the 2016 performance, the company is investing in upgrading bathrooms and bedrooms.

However, she said that “this may affect profits.”

Asked to explain the company’s continuing success, Ms Allen said: “We do our best to continue to do what we have always done well; resisting trends but continually making small improvements to keep us up to date.”

She said that the business is delighted to have such strong Irish business accounting for 65% of revenues with overseas visitors accounting for the remaining 35%.

Ballymaloe House can accommodate up to 60 guests for bed and breakfast facilities and 120 in the restaurant.

Ms Allen said management has turned The Grainstore on the farm into a venue which can cater for corporate events of up to 250 people, while it can also cater for a small number of weddings.

Numbers employed by the company last year increased from 45 to 48, with staff costs rising marginally to €1.7m.