Firm behind 'Coppers' is sitting on €50m cash pile after €5m profit
The cash pile at the firm behind the country's best known nightclub, Copper Face Jacks, passed €50m last year as the money continued to roll in.
New accounts just filed by Cathal and Paula Jackson's Breanagh Catering Ltd show the firm last year enjoyed pre-tax profits of just under €5m - or €95,000 a week.
The filings show the pre-tax profits of €4.94m in the 12 months to the end of January 2015 followed pre-tax profits of €5.55m in the year to end of January 2014, a decrease of 11pc.
The club, which is owned by former garda Cathal Jackson and housed in the Jackson Court Hotel on Dublin's Harcourt Street, entered Dublin nightlife folklore long ago and has amassed the massive cash pile over the years as a result of its enduring popularity.
In the 12 months to the end of January of last year, the company's cash pile jumped by €4.48m from €46.42m to €50.9m
At the same time, the firm's accumulated profits stood at €63.3m.
The club operates seven nights a week and has six bars, two covered beer gardens and a premium level that is made of a private room aimed at hosting parties.
It remains the go-to night spot for victorious sports teams. After Ireland qualified for Euro 2016 last November, many of the team headed there.
The venue has even launched its own brand of underwear, though Coppers boxers' are only handed out as prizes and giveaways.
The Coppers phenomenon has also inspired a stage production, Coppers Uncovered.
Directors' pay for the Jacksons is not disclosed for last year, though in 2014 they paid themselves more than €10,000 a week when they shared a €611,786 salary.
The numbers employed by the venue and the Jackson Court Hotel last year remained static at 193, comprising 187 in "retailing" and six in admin.
Staff costs last year reduced by 9pc from €4.127m to €3.75m, made up of €3.46m in wages and €290,405 in social insurance costs.
The figures show the firm's gross profits last year reduced by 5pc from €11m to €10.45m. Administrative costs of €5.4m resulted in an operating profit of €5m.
However, interest payments of €94,918 resulted in pre-tax profits of €4.94m.
The business last year paid tax of €849,117, allowing it to record post-tax profits of €4.09m.
The pre-tax profit last year takes account of non-cash depreciation costs of €551,082.
The accounts put a book value of €10.7m on the company's buildings.
In the year under review, Breanagh Catering Ltd secured planning permission for an additional 42 rooms at 28 to 31 Harcourt Street.