Powerscourt Hotel back in black on profits of €1.62m

The firm that operates the five-star Powerscourt Hotel in Co Wicklow has swung back into the black with net profits of €1.62m.

Accounts filed by Sugarloaf Ventures Ltd also show revenues increased 12% to €20.59m last year. It benefited from a corporate tax credit of €506,322.

CEO of Tetrarch Capital, Michael McElligott said: “We’re very pleased with the material increase in turnover at Powerscourt Hotel, and equally as important, we continue to see significant improvements in our profitability compared to previous years.”