Huge surge in profits at popular Dublin pub thanks to the Taylor Swift effect
New accounts filed by the Barden family-owned O'Donoghues (Merrion Row) Ltd show that the business recorded the €902,887 post-tax profits in the 12 months to the end of last June after recording post-tax profits of €215,886 in the previous year.
Taylor Swift brought her Eras Tour to the Aviva Stadium in Dublin last year. Photo: Getty
The firm behind one of Ireland's best-known pubs, O'Donoghue's on Merrion Row, Dublin, benefited from Taylor Swift concerts and Irish rugby matches as profits increased more than fourfold to €902,887 last year.
New accounts filed by the Barden family-owned O'Donoghues (Merrion Row) Ltd show that the business recorded the €902,887 post-tax profits in the 12 months to the end of last June after recording post-tax profits of €215,886 in the previous year.
The pub enjoyed a bumper year as 150,000 Taylor Swift fans descended on the nearby Aviva stadium last June 28, 29 and 30.
The pub also benefited from three Six Nations internationals in the early part of last year.
This year, the business will benefit as Dua Lipa and Lana Del Rey perform at the Aviva stadium.
The accounts – signed off by directors, Oliver Barden and Marie Barden on April 9 – show that at the end of last June, the company was sitting on accumulated profits of €2.5million.
The profit last year takes account of non-cash depreciation costs of €242,898.
At the end of last June, the company had shareholder funds of €9.94m that included the accumulated profits of €2.5m and a revaluation reserve of €7.42m.
The company's cash funds plummeted from €2.16m to €840,145, and this coincided with the company re-investing once more in the business last year.
The accounts show that the value of the company's tangible assets last year increased from €7.3m to €9.9m and this was mainly due to the addition of land and buildings freehold that had a book value of €2.86m.
Pay to directors last year reduced from €345,000 to €316,000.
The pub is owned and operated by the Barden family and numbers employed remained at 22 during the year.
The abridged accounts do not provide a revenue figure for the year, but do disclose that the company made a dividend payout of €54,375.
Underlining the buoyant year enjoyed by the business, the amount owed under taxation and social welfare doubled from €374,660 to €760,003.
The pub has long been associated with traditional Irish music, and The Dubliners in particular, who began to play at the pub in the 1960s. Bruce Springsteen has also been a visitor.
The premises was built in 1789 and began operating as a full-time pub in 1934 when Maureen and Paddy O'Donoghue began running the bar.
Oliver Barden bought the pub in 1988.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Post
23 minutes ago
- Irish Post
Drinking rates in Ireland drop nearly 5% in a year
IRELAND'S reputation as a nation of heavy drinkers may no longer hold water. A new report reveals that alcohol consumption rates have continued to decline, with a notable 4.5% drop in the past year alone. 'This downward trend raises a big question,' said a spokesperson from the Drinks Industry Group of Ireland (DIGI), which released the report. 'Why does Ireland still have the second highest excise tax on alcohol in Europe?' The study, by economist Anthony Foley, is the latest sign of a major shift in how and how much Irish people drink. Compared to 25 years ago, the average person drank a lot more alcohol than they do today. The rate has fallen by over one-third to 9.49 litres of pure alcohol per person. Even with a 2.3% increase in the adult population, overall alcohol consumption dropped by 2.4% to 41.5 million litres, showing that per-person drinking levels are continuing to fall. Commissioned by DIGI, the report also highlights the changing tastes of Irish drinkers. Beer still tops the charts, making up 43.3% of alcohol sales, but wine is steadily gaining ground, now at 28.2%, more than double its 13.2% share in 2000. Meanwhile, spirits and cider have dipped slightly, now at 22.3% and 6.1%, respectively. These findings line up with broader research from the OECD and Ireland's Health Research Board, both of which show that Irish drinking habits are now roughly in line with the European average. In fact, countries like France, Spain and Austria currently consume more alcohol per capita than Ireland. Donall O'Keeffe, Secretary of DIGI and CEO of the Licensed Vintners Association, said the latest figures directly challenge long-standing stereotypes. 'Irish people are drinking more moderately. This is part of a trend that's been going on since the early 2000s,' he said. O'Keeffe also pointed to the rise of non-alcoholic beverages as further evidence of this cultural shift. With these changes in mind, he questioned whether Ireland's high excise duties are still appropriate. DIGI is now urging the government to cut alcohol excise duty by 10% in the next budget. O'Keeffe argued that such a move would provide much-needed relief to pubs, especially in rural areas, struggling with rising costs. Based on data from the Central Statistics Office and Revenue Commissioners, the report paints a detailed picture of an Ireland moving toward more moderate drinking. However, alcohol still poses serious public health risks. According to the World Health Organisation, alcohol contributes to 3 million deaths globally each year, almost 1 million of them in Europe. See More: Anthony Foley, DIGI, Donall O'Keefe, Drinking
Irish Examiner
an hour ago
- Irish Examiner
Government to withhold support for motion to end Central Bank facilitation of Israeli war bonds
The Government will not be supporting a cross-party motion demanding the Central Bank end the facilitation of Israeli war bonds and will instead table its own counter motion. Four opposition parties have come together to back the motion and have called on Fianna Fáil and Fine Gael to provide the Government TDs with a free vote when it comes before the Dáil on Wednesday. The Social Democrats, Sinn Féin, Labour and People Before Profit-Solidarity have united behind the motion that demands that the Government enact emergency legislation to explicitly force the Central Bank to stop facilitating the sale of Israeli bonds. It also calls on the coalition to advise the bank that "by acting as the enabling cog in Israel's fundraising machine in the European Union it is putting the state at risk of a charge of complicity in genocide". The motion stresses that since October 2023 the bonds have been advertised as war bonds with the slogan 'stand with Israel – Israel is at war'. The website marketing the bonds contains a video by Israeli President Isaac Herzog who lauds 'the crucial role of Israel bonds during this time of conflict and war". Last month, a similar Sinn Féin bill which sought to stop the Central Bank facilitating the sale of Israeli war bonds was defeated after the Government voted against the draft legislation. Sinn Féin TD Seán Crowe said the gap between the vote on the Sinn Féin Bill and this motion has given TDs 'time to reflect'. Mr Crowe asked: Is there anyone in Ireland comfortable with the fact that we're facilitating this blood money coming into our country and being spent on weapons that are killing men, women and children? Calling on the Government leaders to allow backbench TDs a vote of conscience, Social Democrats TD Sinéad Gibney said: 'We have failed as an international community to prevent a genocide from happening so now we have to do everything in our power to make sure that we stop it.' She added: 'We are urging the Government to allow a free vote, a vote of conscience, because we believe that this is something that many TDs will support if given the opportunity. 'And we absolutely urge the Government to support this motion.' Labour TD Duncan Smith said adopting the motion would send a "clear signal" that Ireland is "morally and ethically" against Israel's bombardment of Gaza and that "Irish people do not stand for the selling of Israeli war bonds". Humanitarian aid blockade Meanwhile, Tánaiste and Minister for Foreign Affairs Simon Harris has made an urgent call to end the blockade and allow humanitarian aid into Gaza. "Ireland has consistently called on Israel to lift its blockade and allow unimpeded access of humanitarian aid at scale into Gaza, in accordance with international law and humanitarian principles," Mr Harris said in a statement. "The UN and humanitarian organisations must be allowed to work independently and do their job. It is a shame on the world and international community that people are starving in Gaza." Praising activists aboard the Madleen, which was blocked by Israeli forces on route to Gaza, Mr Harris said: "The question we should be asking today is not a debate about the merits or not of the flotilla but how it has come to this; that the world is turning a blind eye to starving children in Gaza." Read More Watch: Surveillance footage shows crew on Gaza aid boat putting hands up as Israeli forces seize vessel
Extra.ie
an hour ago
- Extra.ie
Rental reform plan will add to homelessness, landlords claim
New plans to reform the rental housing market are unfair and will have a serious negative effect on rentals, according to the Irish Property Owners Association, the body representing the country's landlords. The new two-tier reform, which proposes to lift the cap in rent pressure zones and provide for minimum six-year leases, is being debated in the Dáil tonight and considered by Cabinet tomorrow. The controversial measures are aimed at encouraging landlords to enter the market and increase the number of rental homes, but the Property Owners Association say it will have the opposite effect. Pic: Shutterstock They have urged the Government 'to consider the impact of, in effect, banning short-to-medium term letting of less than six years' and of the implications for owners of large, multiple tenancies who wish to sell the property. They also ask if the new reforms will include exemptions for homeowners going into nursing homes who want to rent their home for less than six years. 'The IPOA is concerned that the Government's proposed reforms are over-complicated and that the proposed 6-year minimum security of tenure will have a serious negative impact on private, non-institutional landlords, and on the rental market. The IPOA fears that the Government may not have fully considered some of the implications and consequences of the proposals,' spokeswoman Mary Conway said. Mary Conway. Pic: Supplied 'The proposed changes are unfair on the individual who – for good reason – wishes to, and needs to, rent out their home for a short period and points to a flaw on the part of the Government thinking which – by going after institutional landlords – has ignored the implications for individual, private landlords. 'We believe that in seeking to address political concerns about the role of institutional landlords (who are predominantly active in the Dublin region), the Government may be punishing individual landlords, particularly the types of landlords who are the drivers of rental supply in provincial towns and rural areas outside of the large cities.' Ms Conway added. Pic: Shutterstock The proposal to lift the cap on rent in rent pressure zones has been heavily criticised by renters and housing charities. Instead of limiting rent increases to 2% a year the rent will now be tied to the rate of inflation, meaning a higher increase in rents. The Government believes lifting the current rent cap will encourage large landlords to enter the Irish market, but critics and opposition politicians say it will lead to more homelessness if the cap is lifted. As a mark of Ireland's dysfunctional rental market, three-bedroom houses and apartments in Tallaght are now renting for a staggering €3,000 monthly.
