On-trade

Fitzgerald Group turnover down 70%

Publican Louis Fitzgerald's pub and hotel empire suffered a significant drop in turnover in the year to the 30th of June 2021.
Turnover at Burtse, the holding company for the Fitzgerald pub and hotel group was down 70% to €16 million from €53 million the previous year due to Covid.

Turnover at Burtse, the holding company for the Fitzgerald pub and hotel group was down 70% to €16 million from €53 million the previous year due to Covid.

Turnover at Burtse, the holding company for the Fitzgerald pub and hotel group (which includes pubs such as Bruxelles, the Stag’s Head and Kehoe’s in Dublin as well as the Quays in Dublin and Galway in addition to the Louis Fitzgerald and Arlington Hotels in Dublin), was down 70% to €16 million from €53 million the previous year due to Covid, according to accounts lodged with the Companies Office.

These annual turnover figures compare with a pre-Covid figure of over €71 million to the 30th of June 2019.

With revenue down by €37 million last year the report states that, “The company did not trade during the financial year”.

Thus, losses for the year amounted to €570,563 (compared to a profit of nearly €4.9 million the previous year).

The group’s takeup of government grants for the year amounted to €5.7 million and the Operating Profit figure, at €825,307, was but a fraction of the €7.2 million figure the previous year.

Pre-tax losses of €306,598 compare to a pre-tax profit figure of over €5.8 million for the previous year.

Staff numbers were reduced from 825 to 677, now comprising 12 Admin staff (down two), 38 Management (up two), eight Hotel Management (up two) and 617 in bar/operations (down 60) as well as the two directors Helen and Louis Fitzgerald.

This meant that staff costs were reduced from €14.7 million to €5.8 million for the year.

The two directors took out €318,292 in emoluments, down 22% on the previous year’s figure of €408,345.

 

Sign up for Drinks Industry Ireland

Get a free weekly update on Drinks Industry trade news, direct to your inbox. Sign up now, it's Free