Profits climb at the firm behind Dublin's renowned Hogans pub
Declan O’Regan’s company also runs Kelly’s Hotel and L’Gueuleton restaurant.
THE COMPANY BEHIND the renowned Dublin pub Hogans saw a steady rise in profits in 2016, a year after a major revaluation of the firm’s assets.
According to new accounts for Telfer Ltd, which runs the bar and several other properties, the firm made a profit of just over €821,000 in the year to the end of May 2016, up slightly on the tally for the previous year.
Turnover also rose by €300,000 to reach nearly €7.89 million, but cash fell by €783,000 following the repayment of loans.
Telfer is owned by one of Ireland’s best-known publicans, Declan O’Regan. The company also runs Kelly’s Hotel on South Great George’s Street and L’Gueuleton restaurant on Fade Street.
The number of people employed by the company rose to 98, compared to 92 the previous year. Staff costs at the firm also rose from €2.3 million to €2.5 million.
Some 11 of these employees are listed as management, with the remainder involved in sales.
Hogans entrance on Fade Street
The firm has bank loans in excess of €5 million, with a note attached to the accounts stating that Bank of Ireland held a letter of guarantee to the value of €3 million from O’Regan.
Other directors at the firm include Maeve O’Meara and Jacob Koshy Kalaparampil.
Revaluation
Last year, a significant write-down on the firm’s fixed assets led to an unrealised loss of €3.6 million being recorded in the company’s books.
Telfer’s properties were priced at around €14.2 million, according to the latest accounts, the vast majority of which came from its freehold property.
A directors’ note attached to the documents noted the firm’s main risks and uncertainties were similar to those faced by other publicans.
