Louis Fitzgerald group in strong financial position

THE Louis Fitzgerald hospitality group is in a “strong financial position” according to their latest accounts.

Operating profits by the group’s holding company Burtse Ltd, increased last year by 22 per cent to €20.19 million.

New accounts filed by Burtse Ltd, show that the business’s operating profits rose as revenues increased by 3.3 per cent, from €80.84m to €83.48m, in the 12 months to the end of June 2024.

The pub, restaurant, and hotel group operates a range of businesses including the Louis Fitzgerald Hotel at Newlands Cross, An Poitín Stil in Rathcoole, The Laurels in Perrystown and Palmerstown House.

The group portfolio also includes city centre pubs The Stag’s Head, Bruxelles, and Grand Central.

Group management “aims to increase the profitability of the company through increasing turnover and management of its operating costs.”

Accounts show that the business repaid loans of €6m during the year, and this followed loan repayments of €8.45m in the prior year.

Directors Louis Fitzgerald and his wife Helen, state that last year gross profit margin increased from 73.6 per cent to 73.8 per cent. The two received zero pay last year from Burtse Ltd.

The two lead the family-owned Louis Fitzgerald Group, where the Fitzgerald adult children now take a prominent role in the running of the business.

Numbers employed by the business decreased from 911 to 902 as staff costs decreased from €22.69m to €21.8m.