{"id":43011,"date":"2025-09-25T17:10:07","date_gmt":"2025-09-25T17:10:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/43011\/"},"modified":"2025-09-25T17:10:07","modified_gmt":"2025-09-25T17:10:07","slug":"company-behind-irelands-most-expensive-pub-posts-e5-95m-loss-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/43011\/","title":{"rendered":"Company behind Ireland\u2019s most expensive pub posts \u20ac5.95m loss \u2013 The Irish Times"},"content":{"rendered":"

A firm that operates three of Charlie Chawke\u2019s<\/a> pubs, including Ireland\u2019s most expensive pub, The Old Orchard in Rathfarnham, recorded a pre-tax loss of \u20ac5.95 million last year.<\/p>\n

New consolidated accounts filed by Milltown Inns and subsidiaries for the Old Orchard and the Dropping Well pubs in Dublin as well as the award-winning Aunty Lena\u2019s bar in Adare, Co Limerick show it recorded the loss as a result of a non-cash write-down of \u20ac6.2 million in the value of a freehold investment property.<\/p>\n

The group\u2019s operating profits increased by 14 per cent from \u20ac897,192 to \u20ac1.02 million before the write-down is taken into account.<\/p>\n

Revenues dipped marginally to \u20ac11.13 million in the 12 months to the end of October last.<\/p>\n

The directors state that along operating bars and restaurants the group also own a number of investment properties.<\/p>\n

The group also benefited from \u2018other income\u2019 totalling \u20ac348,319 which included rental income of \u20ac268,319. <\/p>\n

The directors state that during the financial year, \u201cthe group encountered several challenges that impacted overall profitability\u201d. <\/p>\n

They state that \u201cwhile the underlying business operations remained resilient, supported by steady revenue growth across key segments, profitability was significantly affected by increased interest expenses\u201d.<\/p>\n

The accounts show that interest on loans increased from \u20ac750,820 to \u20ac767,183.<\/p>\n

The interest costs are mainly connected to the Old Orchard purchase – in 2005 Mr Chawke paid out a record \u20ac22 million for the pub.<\/p>\n

The directors state that they remain focused on improving the profitability of the group through a combination of revenue growth and effective cost management.<\/p>\n

The directors state that \u201cthe Group\u2019s EBITDA (Earnings Before Interest Tax Depreciation and Amortisation) for the year amounted to \u20ac1.4 million representing a solid level of earnings relative to turnover, despite a small decrease compared to the prior year\u201d.<\/p>\n

The directors further state that the group successfully refinanced its banking arrangements by entering into a new financing facility in February 2025. <\/p>\n

They state that \u201cthis new facility replaces the existing borrowing arrangement and provides extended credit terms\u201d.<\/p>\n

The firm recorded a post tax loss of \u20ac6.04 million after taking into account a corporation tax charge of \u20ac88.410.<\/p>\n

The group also recorded an increase of \u20ac3.77 million in the valuation of tangible assets.<\/p>\n

The group\u2019s net debt reduced from \u20ac14.82 million to \u20ac14.36 million.<\/p>\n

Numbers employed increased from 169 to 176 made up of 169 in \u2018bar and restaurant\u2019, five in administration and two in management. <\/p>\n

Staff costs totalled \u20ac4.3 million. The profits take account of non-cash depreciation costs of \u20ac359,471.<\/p>\n

Shareholder funds at the end of October totalled \u20ac1.85 million.<\/p>\n","protected":false},"excerpt":{"rendered":"A firm that operates three of Charlie Chawke\u2019s pubs, including Ireland\u2019s most expensive pub, The Old Orchard in…\n","protected":false},"author":2,"featured_media":43012,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,32151,61,60],"class_list":{"0":"post-43011","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-charlie-chawke","10":"tag-ie","11":"tag-ireland"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/43011","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=43011"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/43011\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/43012"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=43011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=43011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=43011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}