Profits at ex-rugby stars' Dublin pub group soar to €983,526 in 2025
Kenneth Fox
Pre-tax profits at four Dublin pubs part-owned by former Ireland rugby stars, Jamie Heaslip, Sean O’Brien, Dave Kearney and Rob Kearney, this year increased by 90 per cent to €983,426.
The four have minority shareholdings in four Dublin pubs, Lemon & Duke, Bridge 1859, The Blackrock, and McSorleys in a venture with publican Noel Anderson who has a controlling interest in the pub group.
Mr Anderson and his ex-rugby player colleagues expanded their Grand Slam Bars group last year with the reported €5.5m purchase of McSorley's in Ranelagh.
Consolidated accounts for the pub group, Pinewood Bars Ltd, and subsidiaries show revenues increased by 20 per cent from €9.39 million to €11.27 million in the 12 months to the end of February this year.
Operating profits at the group doubled from €622,364 to €1.29 million, and profits reduced to a pre-tax profit of €983,426 after interest costs of €314,323 were taken into account.
The accounts show that McSorley’s of Ranelagh made a sizeable contribution to group profit last year and was the most profitable bar in the group with post-tax profits of €321,528.
The accounts show that €6.13m was spent during the year on the purchase of tangible assets, and this followed a spend of €749,696 under that heading in the prior year.
The new accounts show the Bridge 1859 pub located in Ballsbridge, Dublin 4, recorded post-tax profits of €210,014 while the Lemon & Duke pub recorded post-tax profits of €208,234.
The company that operates The Blackrock, Carysfort Inns Ltd, enjoyed recorded profits of €40,496.
The group recorded post-tax profits of €825,989 after incurring a corporation tax charge of €157,437.
The former Irish international rugby players serve as directors on the subsidiary firms, and directors this year shared ‘ambassador fees' of €52,000 - up from €40,000 in the prior year.
On the risks facing the busines,s the directors state that the group faces increasing costs and that the group is well positioned to manage these costs.
A breakdown in the Pinewood Bar revenues shows that the group drink sales increased by 27pc from €5.74 million to €7.29 million, while sale increases in food were more modest, rising by 7 per cent to €3.84 million, while sales of tea and coffee increased from €44,031 to €133,228.
The number of people employed at the group increased from 137 to 153 as staff costs increased from €3.77 million to €4.13 million.
The profits for this year take into account non-cash depreciation costs of €306,288.
Shareholder funds at Pinewood Bars and subsidiaries at the end of February last totalled €5.58 million which includes €3.6 million in accumulated profits. Cash funds increased from €952,221 to €1.53 million.
