Ballymaloe House reports increased profits as bounce back continues
Family-run firm behind country house hotel in Cork reports profits of €2.24m
The company behind Ballymaloe House employs 48 people with staff costs rising to €1.7 million in 2016.
The company behind Ballymaloe House, the country house hotel and restaurant run by the Allen family in Co Cork, continued to thrive last year.
Newly filed abridged accounts show Yeats Room Limited recorded a €71,478 profit for the 12 months ending October 31st, 2016, as accumulated profits rose from €2.16 million in 2015 to €2.24 million last year.
The company, which celebrated its 50th year in business in 2014, has continued to bounce back since it recorded a €185,933 loss in 2013.
Ballymaloe House is located in Shanagarry, near Midleton in Co Cork. Originally a Michelin-starred restaurant, which was opened by Myrtle Allen in 1964, it subsequently expanded into a country house hotel.
The company, which is controlled by members of the Allen family, including renowned chef Darina Allen, employs 48 people with staff costs rising to €1.7 million in 2016 from €1.6 million in the prior year.
Directors’ remuneration totalled €549,986 as against €574,181 a year earlier.
The firm’s cash pile increased to €761,476 after falling in the prior year to €426,582 from €509,214.
Accounts filed earlier this year by the company’s sister business, Ballymaloe Cookery School, show accumulated profits that rose to €2.68 million from €2.58 million in the 12 months to the end of August 2016.