Molloy’s posts pre-tax loss of €1.8m

Molloy Holdings, the company behind the Molloy’s Off-Licence chain and Molloy’s Bar & Grill in Tallaght as well as Molloy's in Leopardstown, recorded a pre-tax loss of €1.8 million in the year to the 31st of January 2020 according to filings lodged with the Companies Office.

The company had recorded a pre-tax profit of €20,458 the previous year.

Turnover for the group dropped slightly, declining from €17.3 million to €17.2 million for the year just before the pandemic struck.

According to the filings, “The loss for the financial year, after taxation and minority interests and deficit on revaluation of tangible fixed assets of €1,761,208 (2019: €Nil), amounted to €1,832,789 (2019: €31,925)”.

Molloy Holdings recorded an Operating Profit of €114,505 set against an Operating Loss of €17,645 the year before.

Staff costs amounted to €3,222,274 for the year, up 1.4% on the previous year’s €3,177,111.

During the course of the year the company employed 86 bar, off-licence and catering staff (down from 89 the previous year), five Production staff (down from six) and 14 Admin staff (unchanged).

Emoluments for Molloy Holdings’ Directors Kevin, Helen & Richard Molloy as well as Helen Murray totalled €184,342, up 3% from €179,108 the previous year.