Dublin restaurant operator bounces back with pre-tax profits of €540k

THE company that operates Frankie Dettori and Marco Pierre White’s Dublin restaurants jumped out of the red last year with pre-tax profits of €539,621.

This compares to losses in the previous year of €153,912.

According to accounts just filed for Fitzers Holdings for the year to the end of December 2008, turnover fell from €7.6m to €6.9m.

The company’s wage bill was up slightly in the year from €2.3m to €2.4m. It employed 130 staff in sales and administration in the year.

The group has an annual lease commitment of €178,348 for Frankie’s restaurant in Temple Bar and an annual lease commitment of €199,461 for Marco Pierre Whites Steakhouse and Grill restaurant on Dawson Street.

An exceptional item of €1.5m listed in the accounts refers to a gain in the surrender of lease in the property occupied by its Chatham Restaurant.

The directors are listed as Padraic, Geraldine and Frank Fitzpatrick and Desmond Barker.

They said the present level of business will continue for the foreseeable future.

They did not recommend payment of a dividend but it was proposed that the retained profit of €246,907 be transferred to reserves.

“There are no future developments envisaged which would materially affect the nature and level of the company’s activities,” the accounts read.

Fitzers also operates a cafe in the National Gallery of Ireland.

Frankie’s Bar and Grill is the latest chain to be added to its portfolio. It opened earlier this year.

Fitzers is understood to have invested €5m in the opening of the outlet. The restaurant can seat up to 150 people.


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