Combined profits at two Dublin pub ventures co-owned by Irish rugby stars, Rob Kearney, Dave Kearney, Jamie Heaslip and Sean O’Brien last year totalled €697,971.
The four have shares in three Dublin pubs, Lemon & Duke, Bridge 1859 and the recently opened The Blackrock in a venture with publican, Noel Anderson.
New accounts for Bridge 1859 pub located in Ballsbridge, Dublin 4, Herbert Inns Ltd to the end of February last show that it recorded post tax profits of €275,538 - a six-fold increase on the profits of €43,574 for the prior year.
The four rugby personalities - all household names here from stellar rugby careers - have a combined 32.32 per cent shareholding in the business with Noel Anderson owning the remainder of the venture.
New Blackrock venture
In an interview on Friday, Mr Anderson said: “Overall, it was a positive year. The Blackrock is finding its feet and we are very happy with how it is going”, after opening in August of last year.
Mr Anderson said that the expanded group now employs 150 and he said: “We have very good staff around us and that is key to our success”.
Asked about further expansion, Mr Anderson said “we might be looking at something small in town so watch this space”.
On the input of his four co-directors, Mr Anderson said: “We are nine years in business together and still going strong so that is a sign in itself of how we work together.”
At the end of February last, Herbert Inns had accumulated profits of €1.64 million while its cash funds increased from €277,113 to €462,366.
The rugby stars - now all retired from the professional game apart from Dave Kearney - sit on the board with Mr Anderson and last year the five directors shared pay of €50,000 while the company paid out aggregate ‘ambassador fees’ to directors of €10,000.
The profit last year takes account of non-cash depreciation costs of €44,092.
Separate accounts for the group’s sister pub, Lemon & Duke - where the four own a combined 38.76 per cent of the business -show that The Inn on the Hibernian Way Ltd recorded profits of €422,433 in the year to the end of February 2022.
This is a five-fold increase on the profits of €81,730 for fiscal 2021. Part of the €422,433 profit for 2022 is understood to relate to the phased business interruption insurance payouts by FBD to the company that arose from the firm's successful High Court challenge over Covid-19 insurance payouts.
At the end of February last, the firm was sitting on accumulated profits of €983,762. The firm's cash funds increased from €445,906 to €666,144.
The five directors shared pay of €51,490 and an additional €10,000 in ambassador fees.
