Fallon & Byrne reports pre-tax loss after emerging from examinership

Colm Keena

Public Affairs Correspondent

Fallon & Byrne , the Dublin food hall, wine bar and restaurant business, recorded a pre-tax loss of €119,411 for the year to the end of June 2013, its first full year after emerging from a scheme of arrangement.

In accounts for the year to June 2013, the directors note that against a backdrop of a continuing, challenging economic climate, the group reported earnings in 2013, before interest, tax, depreciation and amortisation, of €290,619.

“The group’s trading continues to strengthen and the company continues to provide best service and product to its customers.”

The directors include Paul Byrne and Fiona McHugh. Frank Murphy resigned as a director of the holding company, Sarzala Ltd, in March 2014, and was replaced by Shane Harte. Directors' emoluments were €281,846.

During the year to the end of June 2013, the group employed an average of 130 employees, including directors, at a cost of €3.5 million.

Fallon & Byrne has recently taken over the running of the Pavillion in the People’s Park in Dún Laoghaire, having won a tendering competition run by Dún Laoghaire-Rathdown County Council. It is to be an anchor tenant in the redevelopment of Dollard House, a building on Wellington Quay, Dublin, beside the Clarence Hotel.

The accounts show that turnover for the business in the 2013 year was €10 million, compared with €4.3 million for the six months to the end of June 2012. Shareholders’ funds at the end of June 2013 were €317,252.

Fallon & Byrne entered examinership in December 2011, and emerged from the process in April 2012. The firm was unable to pay a €1.4 million tax bill, but was profitable when historic and current tax liabilities were not taken into account, the court was told at the time. New investment of €1 million was secured.