O’Dwyer brothers reduce pre-tax losses

Pre-tax losses at Toji Holdings, the O’Dwyer brothers’ current hotel and pub business, were reduced by 57% to €1.74 million in the year to 20th September 2013 from the previous year’s €4.1 million figure.

Turnover fell slightly to €26.1 million in 2013 from €26.3 million while operating profit from continuing operations was just under €7 million, up from €2.4 million.

Net debt at the end of September 2014 had reduced 23.9% to €90.8 million from the previous year’s €119.4 million figure with the sale of the company’s Trinity Capital Hotel to US telecomms billionaire John Malone during the year so that the brothers’ portfolio now comprises Break for the Border and the Grafton Capital Hotel.

These premises together employ 305 people which cost the company €7.1 million in 2013, down 2.3% on the previous year’s €7.3 million.