Wards roll out an old classic

Dublin Cinema Group made a profit of almost €1 million last year

The Savoy: owned by Dublin Cinema Group

The Savoy: owned by Dublin Cinema Group

 

Perhaps the Ward family who control the Dublin Cinema Group, the owner of the Savoy in Dublin, should update the directors’ report in its 2014 accounts, which landed in the Companies Registration Office during the week.

“The directors note the risks to business due to the continuing economic recession. But they confidently think the business will maintain profitability during the year,” said the statement, signed by Paul Ward and Mary Ward.

Haven’t they heard? Ireland’s second recession of the financial crisis officially ended in the middle of 2013. We’re now one of the fastest growing economies in Europe and everybody is on course to be rich again pretty soon, or so the Government will keep telling us until polling day at the next election.

Let’s hope there isn’t a sequel to the recession. The third in the series would most likely be a horror.

The Dublin Cinema Group made a profit of almost €1 million last year and sits on retained earnings totalling €41 million, so the Wards, who also own the IMC chain, should be safe enough if it happens.

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