Dropping Well, Orchard ups profits
Profits at Milltown Inns, the holding company for Charlie Chawke’s Dropping Well pub in Milltown, grew 10% to €3.7 million in the year to 31st October 2017 from €3.3 million in the year to the 31st May 2016 according to an abridged set of accounts lodged with the Companies Office.
8 October 2018 | 0
But the company’s accumulated cash in hand fell 43% to €363,633 from its previous figure of €634.715.
Staff numbers at the pub increased by two to 68 as staff costs rose by 48% to €2.34 million in the 17 months to 31st October 2017 from €1.58 million in the year to 31st May 2016.
The two Directors of Milltown Inns, Charlie and Bernice Chawke, took no remuneration from the company during the year.
Another of Charlie Chawke’s outlets, The Orchard Inn in Rathfarnham, cut losses from €872,842 to €523,470 in the year to 31st October 2017 as Earnings Before Interest, Tax, Depreciation and Amortisation reached €1,096,044, up 23% from the previous year’s €889,503 figure according to the abridged accounts for The Orchard Inn Ltd.
Profits after tax doubled to €349,372 from the previous year’s €156,015 figure.
Wages & Salaries and Social Insurance costs for the pub’s 48 staff amounted to €1.36 million, down 2.8% from the previous year’s €1.40 million.
Charlie Chawke bought the pub for €22 million 12 years ago.