Increase in earnings for Louis Fitzgerald group, reaching €20.19 million, demonstrating a 22% surge in operating profits.
The Louis Fitzgerald Hospitality Group, renowned for its pubs, restaurants, and hotels in Dublin, reported a significant surge in operating profits last year, amounting to €20.19 million, marking a 22% increase from the previous year.This upsurge, as revealed in the group's financial reports, was driven by a 3.3% rise in revenues, which ascended from €80.84 million to €83.48 million in the 12-month period ending in June 2024.
One of the group's recent expansions was the acquisition of the Imperial Hotel in Cork in June 2023. Established five decades ago, the group traces its roots back to 1968 when a then 23-year-old Louis Fitzgerald relocated from Tipperary to purchase his first pub on Dublin's Townsend Street. What started as a humble £80-a-week business swiftly escalated to £560-a-week revenues.
The directors of the Louis Fitzgerald Group expressed confidence in the company's financial stability, asserting that the business is in a robust position. They also emphasized that their objective is to boost profitability by augmenting turnover and managing operating costs effectively.
During the year, the business repaid loans of €6 million, following loan repayments of €8.45 million in the preceding year. Despite no remuneration from Burtse Ltd, directors Louis Fitzgerald and his wife, Helen, maintained their leadership roles within the family-owned group, where their adult children now assume a prominent position in the business running.
Key businesses within the group include popular Dublin City Centre pubs such as the Stag's Head, Kehoes, Bruxelles, The Gin Palace, Grand Central, and Quays Temple Bar. Additionally, the group oversees An Poitin Stil, The Laurels in Palmerstown, The Roost, Annie May's, Carroll's, The Arlington Hotel, and The Louis Fitzgerald Hotel.
The workforce of the business decreased by nine, from 911 to 902, resulting in a reduction in staff costs from €22.69 million to €21.8 million. Despite a corporation tax charge of €2.68 million, the group recorded a post-tax profit of €15.87 million.
Notable enhancements in the group's balance sheet include a substantial boost to the revaluation reserve, which increased from €25.88 million to €78.66 million after a 2024 revaluation. Refurbishments and property values alone increased by €43.12 million before depreciation, contributing to a significant increase in shareholder funds from €86.17 million to €141.46 million. Accumulated profits also increased from €41.8 million to €44.3 million. The group's cash funds also saw an upswing, rising from €11.53 million to €17.28 million.
It's worth noting that the Louis Fitzgerald Group recently posted a job listing for a Hotels Marketing Manager in County Dublin due to their "continued growth and development." [4] For more detailed financial information or specific profits data, one may need to consult the company's financial reports or official communications directly.
The Louis Fitzgerald Hospitality Group, currently expanding in the industry, seek to increase profitability in their business by augmenting revenue and managing costs effectively, as demonstrated in their finance sector. With the acquisition of the Imperial Hotel in Cork, they aim to further grow their diverse portfolio of pubs, restaurants, and hotels in Dublin, encompassing establishments such as The Stag's Head and The Louis Fitzgerald Hotel.
