Louis Fitzgerald group returns to profit

Despite a 2.6 per cent drop in turnover, Ocsas Holdings Ltd, holding company for the Louis Fitzgerald group of pubs, enjoyed pre-tax profits of €1.57 million in the 12 months to the end of June 2011 on a turnover of €55.6 million following a pre-tax loss of €50.4 million in 2010 (arising from a €53.3 million ‘exceptional impairments to freehold premises and work in progress’ writedown) on a turnover of €57.1 million.

Operating Profits fell 16 per cent to €6.0 million from €7.2 million the previous year.

The Louis Fitzgerald group owns some of Ireland’s best-known pubs including the Quays in Temple Bar and Galway, the Poitin Stil in Rathcoole, the Stag’s Head, Kehoes, The Big Tree and the Baggot Inn in Dublin city as well as hotels such as The Arlington and the Louis Fitzgerald at Dublin’s Newlands Cross.

According to the directors’ report, “The directors are of the view that despite the current difficult economic climate the actions taken to reduce cost, introduce improved work practices and efficiencies and developing new marketing strategies to generate extra business will ensure that the business will continue to be profitable”.

The company employed 589 bar staff, 46 bar managers and 23 people in admin.