Latest news with #Leitrim-based
Irish Post
7 days ago
- Business
- Irish Post
Gunpowder Irish Gin reports multimillion euro drop in profits
DRUMSHANBO Gunpowder Irish Gin has reported a 25% drop in pre-tax profits to €2.8 million. Financial filings from PJ Rigney Distillery and International Brands Ltd., the parent company behind the Leitrim-based Shed Distillery, show revenues declined by 6% to €17.27 million in the 12 months ending last September. The company, which makes Gunpowder Irish Gin, said it delivered a strong performance during a challenging year marked by inflation and market volatility. Employment at the company rose slightly to 85, with staff costs increasing from €2.43 million to €2.72 million. Directors' pay remained unchanged at €150,000. The company posted a post-tax profit of €2.43 million after incurring a corporation tax charge of €386,550, with total accumulated profits standing at €17.7 million. Cash reserves also grew from €4.95 million to €5.68 million over the year. However, a significant threat now hangs over one of the company's most valuable markets. The US, which accounts for 35% of Drumshanbo's sales, could soon impose tariffs of up to 200% on European spirits as part of a wider EU-US trade dispute. Pat Rigney, founder of the Shed Distillery, warned that such tariffs could effectively shut Irish spirits out of the American market. "The impact of the potential tariffs would be fairly dramatic," he said, adding that even a 50% tariff would severely hurt transatlantic trade. Rigney urged the Irish Government and European Commission to act swiftly to prevent damage to the sector. 'The government should really deal with this as a matter of urgency in the next 48 to 76 hours,' he told RTÉ News, expressing frustration at the inclusion of US bourbon on the EU's retaliatory tariff list, which he believes puts local distillers at risk. In the meantime, the company continues to expand its domestic operations. The Shed Distillery Experience, which completed its first full financial year in 2024, has been deemed a success by the company. The visitor attraction in Drumshanbo has become a big part of the brand's identity and tourism strategy. Producing nearly 2 million bottles annually, the Shed Distillery's portfolio includes the flagship Gunpowder Irish Gin, Drumshanbo Single Pot Still Irish Whiskey and Sausage Tree Pure Irish Vodka.
Irish Independent
08-07-2025
- Health
- Irish Independent
Mayo Rose Clara Gardiner launches fundraiser for mental health charity
Ms Gardiner told the Irish Independent that she aims to raise funds and awareness for North West STOP as she prepares to represent Mayo at the 2025 International Rose of Tralee Festival. The Kilfian native will be the only Connacht representative at this year's competition, which takes place on August 15-19. A party has been organised for her in The Thatch Inn in Crossmolina on August 3, where donations can be made to North West STOP. The charity was founded in 2004 by families who have been bereaved by suicide. The Leitrim-based voluntary organisation provides free counselling sessions, bereavement counselling and various therapies for children and adolescents. 'The counselling sessions are actually funded by the public, so they depend on fundraising and donations to provide that essential for people,' said Ms Gardiner. 'They would have supported me when I was going through my own mental health journey.' The 24-year-old is currently studying home economics teaching at St Angela's College in Sligo while looking after her son Noah (2). Since becoming the Mayo Rose, Ms Gardiner has sought to raise awareness for spina bifida and hydrocephalus in memory of her sister, Jemma, who died at the age of 16 in 2019. She represented Spina Bifida Hydrocephalus Ireland on the night she was selected Mayo Rose back in April, dedicating her win to her late sister. You can donate to Clara Gardiner's 'Mayo Rose Fundraiser for North West STOP' here.
Irish Examiner
25-05-2025
- Business
- Irish Examiner
Brady Insurance targeting €30m in gross written premiums after acquisition of brokerage Mannion
Brady Insurance has acquired brokerage Mannion Insurance, the company confirmed on Sunday. Leitrim-based Brady Insurance completed a buy-back of a 51% stake from Boston-based mutual insurance company Coverys European Holdings (CEH) last December. It has now strengthened its position in the west of Ireland with the deal for Mannion Insurance, a long-established brokerage based in Strokestown, Co Roscommon. 'The addition of Mannion Insurance, a business that shares our values and client-first ethos, is a perfect fit for our vision. The acquisition shows how ambitious Irish-owned firms can work together to create value, innovate, and support local employment," said managing director Jane Brady. Renatus Capital Partners reported that in 2024, there were 22 insurance-related mergers and acquisitions in Ireland, with 15 of these involving private equity-backed buyers. Headquartered in Leitrim and with an office in Dublin, Brady Insurance employs 40 staff and generated €21m in gross written premiums last year, providing personal and commercial insurance as well as specialist underwriting services. Its target is to grow that figure to €30m over the next five years through acquisitions and expansion of its specialist underwriting arm, Brady Underwriting. Mannion Insurance, founded in 1985 by Jim and Denise Mannion, will maintain its office in Strokestown with the existing team of eight in place.
Irish Examiner
04-05-2025
- Business
- Irish Examiner
Festival organisers ‘must bolster adverse weather plans amid insurance scrutiny'
Summer festival organisers are being urged to bolster their weather contingency plans as climate-related events fuel heightened scrutiny from insurers and local authorities. Cancellation and curtailment insurance, which covers unforeseen disruption beyond organisers' control, is becoming an essential part of cover in Ireland, according to an industry expert. A growing number of Irish events and festivals have been affected by adverse weather – including Forever Young in Kildare, where severe rainfall in 2023 led to the temporary exclusion of day-ticket holders. Brady Insurance said insurers are placing a greater emphasis on how organisers address adverse weather conditions, with some local authorities setting cancellation and curtailment cover as a condition of event licensing. As well as cancellation and curtailment insurance, insurers want to see proactive measures on-site 'We're seeing more sudden downpours, storm warnings and safety concerns that can derail an event at the last minute,' said Jane Brady, CEO of the Leitrim-based insurance provider. 'The goal is to prepare early and manage risks effectively and ensure that events have the best chance of going ahead with minimal disruption. 'As well as cancellation and curtailment insurance, insurers want to see proactive measures on-site. 'These include use of additional woodchip to manage muddy grounds, trackway systems to ensure emergency vehicle access and crowd-cooling measures such as shaded areas or misting stations for potentially hot weather.' As an example, the St Patrick's Festival in Dublin, which is a client of Brady Insurance, benefited from cancellation and curtailment insurance in 2018. Forecasts of heavy snowfall led to the curtailment of several outdoor events, including the Festival Big Day Out and the 5K Road Race. 'The festival's existing cancellation and curtailment insurance provided financial protection, underscoring the importance of such cover,' said Julia Dalton, operations director with the St Patrick's Festival. 'In today's unpredictable climate, having robust contingency plans and appropriate insurance coverage is not just prudent it's essential. 'Our collaboration with Brady Insurance has been instrumental in ensuring we can protect the experience for our attendees, and give peace of mind to our team, suppliers and partners. It means we can be confident we're covered and prepared, no matter what the weather throws at us.' Brady Insurance also noted evolving risk concerns beyond the weather with growing interest in securing insurance cover for public disorder risks. It urged festival and event organisers to engage with brokers early in their planning stages to ensure they have the most appropriate cover in place, tailored to their needs. Ms Brady added: 'With good preparation, clear contingency planning, and the right insurance advice, Irish festivals and events can continue to thrive, even in a more unpredictable world.'
BreakingNews.ie
04-05-2025
- Business
- BreakingNews.ie
Festival organisers ‘must bolster adverse weather plans amid insurance scrutiny'
Summer festival organisers are being urged to bolster their weather contingency plans as climate-related events fuel heightened scrutiny from insurers and local authorities. Cancellation and curtailment insurance, which covers unforeseen disruption beyond organisers' control, is becoming an essential part of cover in Ireland, according to an industry expert. Advertisement A growing number of Irish events and festivals have been affected by adverse weather – including Forever Young in Kildare, where severe rainfall in 2023 led to the temporary exclusion of day-ticket holders. Brady Insurance said insurers are placing a greater emphasis on how organisers address adverse weather conditions, with some local authorities setting cancellation and curtailment cover as a condition of event licensing. 'We're seeing more sudden downpours, storm warnings and safety concerns that can derail an event at the last minute,' said Jane Brady, chief executive of the Leitrim-based insurance provider. 'The goal is to prepare early and manage risks effectively and ensure that events have the best chance of going ahead with minimal disruption. Advertisement 'As well as cancellation and curtailment insurance, insurers want to see proactive measures on-site. 'These include use of additional woodchip to manage muddy grounds, trackway systems to ensure emergency vehicle access and crowd-cooling measures such as shaded areas or misting stations for potentially hot weather.' As an example, the St Patrick's Festival in Dublin, which is a client of Brady Insurance, benefited from cancellation and curtailment insurance in 2018. Forecasts of heavy snowfall led to the curtailment of several outdoor events, including the Festival Big Day Out and the 5K Road Race. Advertisement 'The festival's existing cancellation and curtailment insurance provided financial protection, underscoring the importance of such cover,' said Julia Dalton, operations director with the St Patrick's Festival. 'In today's unpredictable climate, having robust contingency plans and appropriate insurance coverage is not just prudent it's essential. 'Our collaboration with Brady Insurance has been instrumental in ensuring we can protect the experience for our attendees, and give peace of mind to our team, suppliers and partners. It means we can be confident we're covered and prepared, no matter what the weather throws at us.' Brady Insurance also noted evolving risk concerns beyond the weather with growing interest in securing insurance cover for public disorder risks. Advertisement It urged festival and event organisers to engage with brokers early in their planning stages to ensure they have the most appropriate cover in place, tailored to their needs. Ms Brady added: 'With good preparation, clear contingency planning, and the right insurance advice, Irish festivals and events can continue to thrive, even in a more unpredictable world.'
