TV chef Martin cooks up massive €1.1m profit
TV celebrity chef Martin Shanahan has seen accumulated profits at his Kinsale Fishy Fishy restaurant jump to over €1.1m last year.
New accounts for the gourmet restaurant business and Mr Shanahan's Fishy Fish shop in the Cork town show that accumulated profits increased last year by €71,136.
The accounts show that accumulated profits at Mr Shanahan's Kinsale Gourmet Store Ltd increased from €1.040m to €1.111m in the 18 months to the end of December 31st 2013.
The €71,136 increase followed accumulated profits increasing by €74,952 in the 12 months to the end of June 30, 2012.
In the 18-month period to the end of 2013, the firm's cash pile increased from €431,732 to €523,544.
A regular on RTE television, Mr Shanahan said yesterday that he is "quite pleased" with how the business performed last year and this year.
"But for someone who works between 70 and 80 hours per week, I wouldn't be jumping up and down with it," he quipped.
Mr Shanahan, who runs the business with his wife Marie, said that the business has benefited from the increasing popularity of fish amongst the public while the Wild Atlantic Way also had a positive impact.
"There were a lot of people talking about the Wild Atlantic Way this year," Mr Shanahan said.
"The Irish psyche has improved in terms of where the economy is, but the spending by people is still catching up. The Irish customer is still very cautious."
The food writer stated that 2014 will be on par with last year.
"The summers are good, but business is quite seasonal as we are open 12 months of the year," he said.
Mr Shanahan said that at peak season the business employs 50 full-time and part-time staff.
He said that the most popular fish dishes during the peak summer season are crabs, prawns and other shell fish with hake and monkfish popular around now.
He established Fishy Fishy in 2006 and today the restaurant has capacity for 140 customers with seating for 90 inside and 50 outside.
He said that he has no plans to extend the Fishy Fishy brand elsewhere in Ireland.