O'Dwyers cuts losses to €6.3m in 2010
Pretax losses at the slimmed down O’Dwyer hotel and pub group decreased sharply to €6.3 million in 2010, new figures show. The pub empire in Dublin that O’Dwyer brothers, Liam and Desmond, built was broken up in 2009 when a bank receiver was appointed to three of their pubs – Café en Seine, The George and Howl at the Moon.
The O’Dwyers continue to operate Break for the Border, the Dragon Bar and the Grafton Capital and Trinity Capital hotels.
In accounts recently filed by the O’Dwyers’ Toji Holdings, they show that pretax losses fell by 59 per cent from €15.6 million in 2009 to €6.3 million in the 12 months to September 30th, 2010.
The figures show that revenues at the group in 2010 decreased by 25 per cent from €32.3 million to €24.2 million – revenues are split between €22.2 million from bars, hotels and restaurants and €2 million from waste management.
The accounts – signed off on July 18th last – show that the firm returned to record an operating profit of €299,000 in 2010 following an operating loss of €1.9 million in 2009.