Orsen profits fall

Pre-tax profits at Orsen, the group behind Paddy McKillen’s hospitality vehicle, fell from €1.9 million to just €140,202 on a turnover up 2.3% to €43.9 million in the year to 31st December 2016 according to the company’s financial statement submitted to the Companies Office.

Orsen’s portfolio of accounts includes Wagamama, the Everleigh Garden nightclub on Dublin’s Harcourt Street and the Workman’s Club in Temple Bar, adjacent to the Clarence Hotel as well as the Press Up Entertainment Group.

Staff numbers in the Orsen group rose through the year from 666 to 701, pushing up the staff costs bill to €15.5 million from the previous year’s €13.5 million while total remuneration for Orsen’s directors remained at €150,000.

At the end of the year Orsen owed €696,785 (down from €777,902) to Paddy McKillen Snr and €373,699 (up from €289,968) to Paddy McKillen Jnr.

“We’re delighted with how the group performed in 2016,” a spokesman for the group told Drinks Industry Ireland, “ Ebitda was higher in 2016 than 2015 save for a one-off profit of €963k on the sale of a property in 2015.

“2016 ebitda was €4,822,518 vs €4,254,171 in 2015, an increase of 16%. We are on course to increase profits in 2017 vs 2016.”




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