Howth Railway Refreshment Rooms pre-tax losses up
Pre-tax losses at Howth Railway Refreshment Rooms Ltd, the company behind the Bloody Stream in Howth, Wrights Café Bar in Swords and Gilbert & Wright in Malahide, totalled €1.2 million in the year to 31st March 2018 according to the company’s financial statement, published recently, up 75% on the previous year’s €697,057 loss total.
8 May 2019 | 0
Despite this, turnover was up 1.5% to €9.1 million from €8.9 million the previous year. Directors Michael Wright and Justin Baily explain that exceptional write-offs resulted in the overall loss figure despite the growth in turnover.
Within the turnover figure bar sales fell slightly to €5.3 million from €5.32 million but food sales grew 4.3% from €3.5 million to €3.6 million and ‘other sales’ accounted for €171,752, up just under 4% on the previous year’s figure of €165,439.
This led to a 90% rise in Operating Profits to €489,260 from €257,091.
Staff costs (inclusive of directors’ salaries) amounted to €2,780,486 for the compliment of 125 staff (up two to seven in Admin on last year) which showed a 7% increase on staff costs from the €2,606,828 figure for the year before.
Directors remuneration came to €59,443, up 36% on the previous year’s €43,558.
The Howth Railway Refreshment Rooms Ltd is 51% owned by parent company the Wright Bar Group.