Dublin’s senior footballers’ All-Ireland run and win last year helped the firm behind Dublin nightclub Copper Face Jacks to increase pre-tax profits by 5% to €6.8m, new figures show.
In September last year, more than 1.1m television viewers saw All-Ireland senior football Dublin captain Bryan Cullen endorse the nightclub, ending his victory speech at Croke Park with: “See you all in Coppers.”
New figures show there was no need for the endorsement for the profitable and cash-rich Breanagh Catering Ltd that operates the club.
Accounts lodged with the Companies Registration Office show the firm’s cash pile at the end of Jan 31, 2012, stood at €38m — having increased by €5.4m in the preceding 12 months. Pre-tax profits of €6.8m last year followed pre-tax profits of €6.4m in 2010.
The firm is about to plough some of that money back into the club and Jackson Court Hotel that houses the venue, with plans lodged to Dublin City Council for a revamp.
The plan follows increased competition in Dublin’s nightclub sector with Paddy McKillen’s son, Paddy Jr, recently opening a venue a few doors away from Copper Face Jacks on Dublin’s Harcourt St.
Breanagh’s 2010 accounts revealed Copper Face Jack’s cloakroom receipts totalled €217,146 that year — however no comparative figure is provided in the 2011 accounts.
The club is owned by ex-garda, Cathal Jackson.
At the end of last January, the company had €49.1m in accumulated profits. The abridged accounts show that gross profit at the company dropped by 4% from €7.46m to €7.18m.
Administrative expenses totalling €5.4m would have resulted in a profit before interest of €1.7m but for ‘other operating income’ of €5.1m. The firm’s other operating income rose by 15% from the €4.4m generated under that heading in 2011.
According to the directors’ report, “the company plans to continue its present activities and to increase turnover in the coming year”.
The profits also takes account of non-cash depreciation costs of €387,099. The company’s tax bill last year came to €1.1m. The numbers employed rose from 166 to 194 with employment costs going up from €3.1m to €3.4m.
The company’s fixed assets last year had a book value of €11.8m. Its bank overdraft last year reduced from €56,644 to €11,193.
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