Plans to turn function room of Mayo hotel into residential accommodation opposed by local councillor

Pat Mulhern, owner of The Dolphin Hotel in Crossmolina, accused of 'seeking to capitalize' on homelessness by converting function room into residential accommodation
A Crossmolina-based county councillor has lodged a formal objection to a local hotel changing its function room into a residential space.
Cllr Michael Loftus has opposed plans by the the owner of the Dolphin Hotel, Pat Mulhern, to change the premises from commercial to residential use.

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Revenues at cystic fibrosis drugmaker Vertex hit $2.63bn on back of Kaftrio sales

Irish Independent

5 hours ago

Irish Independent

Revenues at cystic fibrosis drugmaker Vertex hit $2.63bn on back of Kaftrio sales

New accounts show that revenues at Vertex Pharmaceuticals (Ireland) Ltd last year increased by 13pc from $2.31bn to $2.63bn. The Dublin-registered company fulfils all EU-wide sales, and the firm now sells a range of CF drugs that includes Kalydeco and Orkambi across the EU. Vertex has five approved CF medicines that treat nearly three-quarters of the approximately 94,000 people suffering from CF in the US, Europe, Australia and Canada. Pre-tax profits at the company rose by 27pc to $17.6m Against the background of the sharp increase in revenues at the Dublin arm, pre-tax profits at the company rose by 27pc to $17.6m. The company's operating profits increased by 14pc to $10.16m and interest income of $7.4m resulted in the pre-tax profit of $17.6m. The company recorded post-tax profits of $13.2m after incurring a corporation tax charge of $4.39m. The corporation tax charge included $1.23m in adjustments in respect of prior years. Globally, Vertex's sales of Kaftrio/Trikata accounted for 93pc, or $10.2bn, of $11.02bn in global sales. The Irish-based unit accounted for 24pc of global sales. The directors for the Irish-based unit state: 'The increase in revenue for the financial year was due to the continued growth of Kaftrio sales to Vertex-affiliated companies in the EU.' Pay of Reshma Kewalramani, CEO of Vertex's global operations, totalled $23.68m Numbers employed last year increased to eight and staff costs rose by 70pc from $1.3m to $2.2m that included salary costs of $1.5m, $492,000 in share-based payments and $186,000 in social security costs. ADVERTISEMENT The directors state that in December 2024, the Food and Drug Administration (FDA) in the US approved Alyftrek for the treatment of people with CF aged six and over, and the directors state that Alyftrek is currently under regulatory review in the EU. The directors of the Irish company did not receive any pay from the firm in 2024. However, the pay package for the CEO and president of Vertex's global operations, Reshma Kewalramani, last year totalled $23.68m. The CEO's 2024 pay package included stock awards of $17.14m along with non-equity bonus pay of $4.94m. At the end of December last, shareholder funds at the Irish unit totalled $439.16m. Cash funds increased sharply from $262m to $395m.

Profits and revenues surge at family-run fast food operator Dino's

Irish Examiner

6 hours ago

Irish Examiner

Profits and revenues surge at family-run fast food operator Dino's

Pre-tax profits at the Cork-based fast food operator, Dino's, last year increased more than fourfold to €708,948. Accounts filed by the Cregan family-run Dino's Group Ltd show that the group recorded the jump in profits as revenues rose by 8% from €7.43m to €8.03m in the 12 months to the end of July last. The group employs 160 and only last month expanded to open a new drive-thru in Midleton. It also has outlets at Ballincollig, Douglas, Blackpool, Bishopstown, Grange, Kinsale, and Turner's Cross. Director at the group, Noel Cregan said the increase in revenues and profits was achieved through organic growth with in-store footfall increasing year over year. The business also received a boost with third-party sales where Dinos-branded product is now available on the shelves of other retail outlets. Mr Cregan said: 'We have partnered with various wholesale distributors in Ireland to get our product on the shelves of local supermarkets." He said: '2022/23 was an exceptional year for raw material costs. For much of the year, potato prices had increased to an unsustainable level. Fortunately they have reverted somewhat, albeit still not at pre-pandemic levels. He said: 'Dino's are committed to using locally grown produce in our stores, and our potato supply comes specifically from farmers in east Cork. 'We offer the best quality and aim to be the best for value for money in the market. "Our aim is to remain the most competitive in the market among our competitors. Staff costs last year increased from €2.8m to €3.03m. The accounts show that the company has obtained bank funding for €2.275m for the construction and fit-out of its new drive-thru in Midleton. Mr Cregan said that the project has been in development for some time and to date, 'the new store has been a great success, and we are delighted to bring Dinos to Midleton and engage with the local community there'. The directors state that 'the group plans to concentrate on improving the profitability of its current business in the hot food takeaway retail sector and intends to expand the number of retail outlets in the next few years". Mr Cregan's parents, Denis and Mary, started the business in the early 1970s and Noel is one of seven Cregans involved in the business with 'five of us on a full-time basis and two on the periphery'. He said that his parents have 15 grandchildren 'and the ones that are old enough have all worked in the business at some point also'. Accumulated profits at the end of July 2024 totalled €5.93m. Cash funds increased from €512,361 to €602,792. Read More Cork publican Benny McCabe hails city revival with opening of The Fountain bar

Irish Independent

7 hours ago

Irish Independent