Pints of Guinness for more than €10 helped the owner of one of the country’s best-known pubs, The Temple Bar in Temple Bar, Dublin, increase pretax profits by 46.4 per cent to €9.61 million last year.
New consolidated accounts filed by Tom Cleary’s Hillbreak Ltd show that pretax profits at the hospitality group increased on the back of revenue rising by 16 per cent to €38.35 million in the 12 months to the end of October.
The pretax profits are well up on the €6.56 million for the previous year.
The Temple Bar’s pub front of the Temple Bar is one of the most well known in Ireland. A drinks receipt from the pub put online by a customer went viral in May last year with 85,000 views on X.com showing a price for a pint of Guinness cost €10.45.
READ MORE
The receipt included a note from The Temple Bar pub to state that “all prices include live music and cover charge” along with 23 per cent VAT and excise duty.
Ordering a pint directly to a table now costs €10.95, according to The Temple Bar’s website. A pint of Heineken or Carlsberg costs €11.95.
Hillbreak was incorporated in May 2022 and counts the operator of Temple Bar, Temple Inns Ltd as one of its subsidiaries.
The group generated cash of €13.85 million from operations last year.
Operating profits increased by 27 per cent to €11.46 million.
Net interest payments of €1.82 million reduced operating profits to a pretax profit of €9.6 million.
The group recorded an after-tax profit of €8.29 million after incurring a corporation tax charge of €1.3 million.
Numbers employed remained at 92 as staff costs increased from €7.53 million to €8.06 million.
The company’s accumulated profits stood at €24.35 million at the end of October.
The shareholder funds also include cash funds of €24 million. Pay to directors remained at the same level of €300,000.
In May of this year, Dublin City Council granted planning permission to Cleary’s Chambers Properties Ltd for a 43-bedroom hotel facing on to Dame Street and Eustace Street in Temple Bar.
