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Profits Rise for Louis Fitzgerald Group

Kehoes pub is one of several high profile sites owned by the Fitzgerald Group.

Kehoes pub is one of several high profile sites owned by the Fitzgerald Group.

The Louis Fitzgerald Group saw its pre-tax profits rise slightly for the year ending June 30th 2013, up to €4m compared to €3.3m for the previous fiscal year.

In line with this, directors Louis and Helen Fitzgerald gave themselves a four fold pay increase up to €1.9m, a jump of 420%.

The accounts, recently released by Ocsas Holdings Ltd, show that despite the increase in profits, overall group revenue dipped slightly from €54.31m down to €54.29m.

Bank loans owed by the group were reduced during the year from €82.8m to €79.7m.  Overall group cash reserves stand at €20.3m and net assets amount to €62.76m.

The report also states that: “The directors are of the view that despite the current difficult economic climate the actions taken to reduce cost, introduce improved work practices and efficiencies, and developing new marketing strategies to generate extra business will ensure that the business will continue to be profitable”.

The Fitzgerald Group owns some of the most high profile pub and hospitality premises in the country, including The Stag’s Head and Kehoes pubs in Dublin and the four star Louis Fitzgerald Hotel at Newlands Cross.

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