Temple Bar pub toasts 3% rise in profits to €3.3m
The company behind The Temple Bar pub in Dublin is again toasting bumper earnings — as profits increased again last year to €3.4m, or €65,575 a week.
The pre-tax profits at Temple Inns Ltd in the 12 months to the end of October were up 3% from the €3.29m earned in 2016. And sky-high prices for drinks did little to deter the thousands of tourists and locals descending on the pub as gross profits rose 7.7% to over €11.1m.
At the pub, punters can pay €7.95 for a late night pint of Heineken and €6.95 for a pint of Guinness.
The multi-award winning pub has its own merchandise shop selling Irish goods.
The two directors of the firm are Tom Cleary and Jackie Cleary, who have their home at one of the country’s most exclusive addresses at Ailesbury Road in Dublin 4.
Their combined pay declined from €337,197 to €324,055 last year. Staff costs, which include directors’ pay, increased from €2.26m to €3.4m.
However, after paying out €100,000 in 2016, the Clearys didn’t pay themselves a dividend in 2017.
At the end of October, the group had accumulated profits of €13.97m and shareholder funds of €13.98m.
The directors in the accounts said the company traded strongly helped by new outlets for the retail business.
Its cash pile last year increased from €4.76m to €4.93m. It paid net interest payments of €404,980 and posted a net profit of €2.9m, after paying corporation tax of €495,661.
