Restaurant Patrick Guilbaud serves up €344,600 profit after two years of losses

Restaurant Patrick Guilbaud in Dublin had a “fantastic year” in 2022, its co-owner Patrick Guilbaud said on Wednesday. Mr Guilbaud was commenting on the restaurant’s latest results, which showed a post-tax profit of €344,600 after two years of Covid-related losses.

“2022 was a strong year for the restaurant. It was a fantastic year,” Mr Guilbaud said in an interview.

Commenting on the Covid-19 shutdown of the restaurant industry during certain phases of the pandemic, Mr Guilbaud said: “We were 100 per cent one day and zero per cent the next but we were all in the same boat.”

Restaurant Patrick Guilbaud recorded a post-tax loss of €19,679 in 2021, with this growing to a deficit of €662,889 in 2020. In 2019, the business had recorded profits of €873,643.

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“We are very lucky that we have a very strong team here and the Government furlough support really helped,” Mr Guilbaud said.

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He described the restaurant’s 2023 performance as “steady”, saying business from tourists is “nearly back to normal”.

“Will it be as good as 2022? I’m not sure. We want to make sure that 2024 will be strong as well.”

Restaurant Patrick Guilbaud, housed within the Merrion Hotel in Dublin 2, celebrated 40 years in business last year. It has weathered five recessions.

“Forty years in business is amazing. I am so pleased about that,” Mr Guilbaud said.

At the end of August last year, Mr Guilbaud’s Becklock Ltd’s accumulated profits stood at €2.22 million. The company’s cash funds decreased by €468,650 from €1.24 million to €774,621.

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Staff costs last year more than doubled from €823,523 to €1.63 million as staff numbers increased from 26 to 36. Directors’ pay increased from €183,326 to €535,318, with the total comprised of emoluments of €348,696 and pension contributions of €186,620.

The lunch menu at Restaurant Patrick Guilbaud is priced at €90 per person, while the a la carte menu ranges in price from €140 to €160 per person.