Grand Slam Bars Profits Rise with McSorley’s Addition
- Dublin-based pub group Grand Slam Bars experienced a significant increase in pretax profits, nearly doubling to €983,000, according to recently filed financial accounts. This growth is attributed to...
- The group's financial performance has shown consistent improvement year-on-year.
- Grand Slam Bars is owned by Noel Anderson, the former chairman of the Licensed Vintners association (LVA).
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Grand Slam Bars Reports Doubled Profits following Acquisition
Table of Contents
Overview
Dublin-based pub group Grand Slam Bars experienced a significant increase in pretax profits, nearly doubling to €983,000, according to recently filed financial accounts. This growth is attributed to increased revenues and the mid-year acquisition of McSorley’s pub in Ranelagh. Turnover rose from €9.4 million to €11.3 million during the financial year.
Financial Performance
The group’s financial performance has shown consistent improvement year-on-year. The increase in turnover from €9.4 million to €11.3 million represents a roughly 20% growth. Pretax profits rose from an undisclosed amount to €983,000. the accounts also reveal that director remuneration increased to €55,000.
| financial metric | Previous Year | current Year | Change |
|---|---|---|---|
| Turnover | €9.4 million | €11.3 million | +20.2% |
| Pretax Profit | Undisclosed | €983,000 | Significant Increase |
| Director Remuneration | Undisclosed | €55,000 | Increase |
Grand Slam Bars is owned by Noel Anderson, the former chairman of the Licensed Vintners association (LVA). The group also includes four former Irish international rugby players: Gordon Hamilton, David Corkery, malcolm O’Kelly, and John Hayes.
Moreover, Mr. Anderson holds a stake in the Changing Times Brewery, which supplies stout and lager. The brewery owed Grand Slam Bars €150,000 at the end of the financial year.
Acquisition of McSorley’s
The mid-year acquisition of McSorley’s pub in ranelagh played a crucial role in the group’s improved performance. Ranelagh is a vibrant suburb of Dublin, known for its thriving social scene. McSorley’s is a well-established pub in the area, making it a strategic addition to the Grand Slam Bars portfolio. The acquisition likely contributed to both increased revenue and brand recognition.