The firm that operates Copper Face Jacks recorded pre-tax profits of €2.52m this year – or €48,645 on average per week.
New accounts show that Breanagh Catering Ltd recorded a 10% drop in pre-tax profit from €2.8m to €2.52m as revenues dipped from €11.78m to €11.7m in the 12 months to the end of January 31st this year.
The new accounts for Cathal and Paula Jackson’s Breanagh Catering show it clocked up nightclub and bar sales of €10.45m this year which was down marginally on the €10.46m under that heading in the prior year.
The Jackson Court Hotel on Dublin’s Harcourt Street houses the night-club and Breanagh Catering recorded a further €1.24m in accommodation sales which was down slightly on the €1.3m recorded for the 12 months to the end of January 2024.
Numbers employed by the business last year increased by nine from 144 to 153 as staff costs increased from €4.57m to €5m.
Pay to directors increased from €1.43m to €1.62m made up of remuneration of €622,061 and a €1m contribution into the Jacksons’ pension pot.
The €1m in directors’ pension contributions follows a cumulative €2.15m made in directors’ pension contributions in the prior two years.
The firm last year generated €2.6m in cash from its operations.
The company last year received ‘other operating income’ of €77,321 which followed €80,122 under that heading in the 12 months to the end of January 2024.
The profit takes account of non-cash depreciation costs of €454,046.
Operating lease charges totalled €175,592. The firm’s costs were made up of cost of sales of €1.26m and administrative expenses of €8.24m.
The accounts – signed off on October 23rd – show that the business recorded a post tax profit of €2.19m after incurring a corporation tax charge of €330,816.
Addressing the risks facing the business, the directors state that “there continues to be increased competitiveness in the hotel and licensed trade sector while the company’s sales are also exposed to changes in general economic conditions in Ireland”.
They state that the company has considered the risks prevalent and is continuously working on managing its overheads to reduce costs and improve profitability
At the end of January last, the company’s accumulated funds totalled €17.59m. The company’s cash pile increased from €8.48m to €10.88m.
Mr Jackson – who celebrated his 70th birthday this year – opened Copper Face Jacks in February 1996 and he put the business up for sale in March 2019 with industry sources at the time speculating the business might realise €40m.
However, staff were told in a company memo in November 2019 that the business was no longer for sale as Mr Jackson “has decided to stay actively involved in the business”.
Reporting by Gordon Deegan