![\"Publican](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2025\/09\/PL_4612145_highres.jpg\")
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Publican and businessman Charlie Chawke in 2007. Photo: Brian McEvoy<\/p>\n
A firm that operates three of Charlie Chawke\u2019s pubs, including Ireland\u2019s most expensive pub, The Old Orchard in Rathfarnham, recorded a pre-tax loss of \u20ac5.95m last year.<\/p>\n
New consolidated accounts filed by Milltown Inns and subsidiaries for the Old Orchard and the Dropping Well pubs in Dublin and the award-winning Aunty Lena\u2019s bar in Adare, Co Limerick, show it recorded the loss as a result of a non-cash writedown of \u20ac6.2m in the value of a freehold investment property.<\/p>\n
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Publican and businessman Charlie Chawke in 2007. Photo: Brian McEvoy<\/p>\n
Today’s News in 90 Seconds – September 26th <\/p>\n
The group\u2019s operating profits rose by 14pc from \u20ac897,192 to \u20ac1.02m before the writedown is taken into account.<\/p>\n
Revenues dipped marginally from \u20ac11.3m to \u20ac11.13m in the 12 months to the end of October last.<\/p>\n
The directors state that along with operating bars and restaurants, the group also own a number of investment properties. The group also benefited from \u00ad\u201cother income\u201d totalling \u20ac348,319 which included rental income of \u20ac268,319.<\/p>\n
The directors said during the financial year, \u201cthe group encountered \u00adseveral challenges that impacted overall profitability\u201d. They state that \u201cwhile the underlying business operations remained resilient \u2013 supported by steady revenue growth across key segments \u2013 profitability was significantly affected by increased interest expenses\u201d.<\/p>\n
The accounts show interest on loans increased from \u20ac750,820 to \u20ac767,183.<\/p>\n
The interest costs are mainly connected to the Old Orchard purchase \u2013 in 2005 Mr Chawke paid out a record \u20ac22m for the pub.<\/p>\n
The directors said they remain \u00adfocused on improving the profitability of the group through a combination of \u00adrevenue growth and effective cost management.<\/p>\n
The directors said \u201cthe group\u2019s \u00adEBITDA (Earnings Before Interest Tax Depreciation and Amortisation) for the year amounted to \u20ac1.4m, representing a solid level of earnings relative to turnover, despite a small decrease compared to the prior year\u201d.<\/p>\n
The directors further stated that the group successfully refinanced its banking arrangements by entering into a new financing facility in February. They said \u201cthis new facility replaces the existing borrowing arrangement and provides extended credit terms\u201d.<\/p>\n
The firm recorded a post-tax loss of \u20ac6.04m after taking into account a corporation tax charge of \u20ac88,410.<\/p>\n
The group also recorded an increase of \u20ac3.77m in the valuation of tangible assets. The group\u2019s net debt reduced from \u20ac14.82m to \u20ac14.36m. Numbers employed increased from 169 to 176.<\/p>\n","protected":false},"excerpt":{"rendered":"Publican and businessman Charlie Chawke in 2007. Photo: Brian McEvoy A firm that operates three of Charlie Chawke\u2019s…\n","protected":false},"author":2,"featured_media":46104,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,61,60,898],"class_list":{"0":"post-46103","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-ie","10":"tag-ireland","11":"tag-latest-news-ticker"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/46103","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=46103"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/46103\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/46104"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=46103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=46103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=46103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}