O’Dwyers reduce pre-tax losses

Turnover at Liam and Des O’Dwyer’s Toji Holdings, the parent company of the O’Dwyer Hotel Group, grew 4%, €1 million, to €26.3 million in the 52 weeks to 30th September 2012 according to the company’s recently-filed accounts.

When turnover from it’s waste management operation is deducted, the Group’s Dublin-based pub, hotel & restaurant business (Break For The Border, The Dragon Bar and the Grafton Capital Hotel) enjoyed a turnover of €24.7 million, up 5% from €23.5 million in 2011.

However pre-tax losses continued although, at €4.2 million, they were well down on 2011’s pre-tax loss of just under €10 million.

(In 2009 the banks appointed a Receiver to three of the original pubs in the group: Café en Seine, The George and Howl at the Moon, while Toji is reported to have sold The Trinity Capital Hotel for around €35 million to US billionaire John Malone.)
Still, the company was able to enjoy an Operating Profit of €2.3 million rather than repeat the previous year’s €3.3 million Operating Loss.

The cost of employing over 300 staff also reduced from €7.7 million to €7.3 million.
But consolidated liabilities at Toji have increased by €4.2 million to just under €75 million.

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