Louis Fitzgerald Group pre-tax profits up 150%

Pre-tax profits at the Louis Fitzgerald Group were up 148% to €14.1 million in the year to the 30th of June 2019 from €5.8 million the previous year.

 

Turnover at Burtse Ltd, the holding company for Louis Fitzgerald’s business portfolio, also saw a 2.1% increase in the year to €71.4 million from €69.9 million.

Burtse has a number of prominent pubs in its portfolio (through other holding companies such as Darke Entertainments and Biggerstaff Services) which includes Kehoe’s in Dublin’s South Anne Street, The Stag’s Head in Dame Lane and the Louis Fitzgerald Hotel on the Naas Road as well as the Quays bar in Temple Bar and in Galway and lately Tigh Neachtain, also in Galway.

Burtse turned in an Operating Profit for the year of €15.6 million, up 88.3%, with staff payroll costs down 18% from €22.3 million to €18.2 million for a monthly average of 892 staff. Staffing is up from the previous year’s 798 figure and comprises 17 staff in Admin (up from 12), 38 in Management (up from 24), eight in Hotel Management (down from nine) and 826 in Bar/Operations (up from 741).

Some €430,145 was taken by the three Directors Louis, Helen and newly-appointed Eddie Fitzgerald during the year.

Last year, the two directors took nearly €6.9 million in directors’ remuneration.