herald

Wednesday 14 November 2018

Celebrity chef makes tasty €435,000 profit

Dylan McGrath
Dylan McGrath

Two Dublin restaurants operated by celebrity chef Dylan McGrath enjoyed combined profits of more than €435,000 last year.

New accounts show that his Fade Street Social - which has attracted the likes of Beyonce and Jay Z - recorded profits last year of almost €370,000.

This compares to profits of €26,200 in 2016.

McGrath's nearby Rustic Stone, in South Great George's Street, also enjoyed a strong year with profits of €65,900.

McGrath's success resulted in the companies employing a combined total of 176 staff at the end of last year.

Numbers at Fade Street Social increased from 95 to 106, while numbers at Rustic Stone declined by one to 70. The combined profits at the two firms take account of combined non-cash depreciation costs of €676,200.

Fame

Accumulated profits at Rustic Stone at the end of last year totalled €149,500, while the firm's cash pile totalled €101,750.

McGrath first shot to fame after he secured a Michelin star at his Mint Restaurant in Ranelagh, which featured in the 2008 RTE One fly-on-the-wall documentary The Pressure Cooker.

The Dublin born chef will be hoping his latest venture will be as profitable. The Shelbourne Social Restaurant and Bar in Ballsbridge, Dublin 4 opens on November 30. The venture, which cost over of €3m, is an 85-seater that offers the customer food and "daring" cocktails.

Promoted articles

Entertainment News