Superstars Rihanna and Niall Horan from One Direction have added to the Lillie’s Bordello coffers as the firm operating the venue recorded an increase in profits of €283,000 last year.
The pop stars, along with Bono, are just some of the celebrities to enjoy themselves at the popular celebrity haunt in the recent past.
New figures show that the company behind the nightclub increased its accumulated profits from €2.278m to €2.56m in the 12 months to the end of February, 2013.
Nightclub boss, Oliver Hughes, said yesterday that Lillie’s Bordello is enjoying “moderate growth”.
Mr Hughes was commenting on figures showing that Noyfield Ltd increased its profits by €282,740 last year.
Mr Hughes and his first cousin, Liam Lahart, head up the Porterhouse pub business group. It employs 400 people across its pub network in Dublin, London, and New York.
Noyfield Ltd is the firm behind Lillie’s Bordello and adjoining Porterhouse Central bar.
Mr Hughes said: “Lillie’s Bordello is there 22 years now. It is a challenging business environment for nightclubs and the business is stable and has shown moderate growth this year and last year.”
Mr Hughes said that the lines are blurred in the nightclub industry at the moment where nightclub owners have to compete with late night bars “and you have to adapt”.
He said that he would like to think that the group business has turned the corner, pointing out that the Porterhouse Group has employed an additional 15 to 20 people over the past year. The recent expansion includes the opening of the Dingle Distillery in Co Kerry.
In 2004, Mr Hughes and Mr Lahart purchased the Grafton St venue for a reported €5.5m, and Mr Hughes said yesterday that the business has been revamped in recent weeks with the club now open earlier for cocktails.
“The market at the moment is cheap drink or premium drink and we believe that we are very well located on Grafton St for the cocktails we offer.”
Mr Hughes said below- cost selling of alcohol is the biggest threat to the nightclub business and the Government must act.
“In 1979, the price of a can of beer was £1 and in 2013, the price of a can of beer at an off-licence is €1, so 34 years on, canned beer is actually cheaper and that is mad.”
He said the situation represents “a free for all and is bad for everyone”.
The abridged figures for Noyfield Ltd show that the firm’s cash pile last year reduced from €344,050 to €200,343.
The profit last year takes account of non-cash depreciation costs of €236,214.
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