Profits down, turnover up at Mercantile

Ardan Advisory, the holding company for the Mercantile Entertainment Group, saw turnover rise 3.4% to €29.7 million in the year to 31st December 2017 from €28.7 million the previous year, according to its end of year results.

But Operating Profits at the owners of such licensed icons as Whelans and Café en Seine fell 84% to €95,058 from €586,771 the previous year.

Pre-tax losses at the company shrank from €893,256 to €703,209 which reduced overall losses for the financial year to €897,687 from €1.25 million.

Staff numbers were reduced from 325 to 301 with a consequential 6% reduction in staff costs to €8.7 million from €9.3 million.