Pretax profits at the company behind the Powerscourt Estate in Enniskerry, Co Wicklow increased by 67 per cent to €4.17 million last year.
New accounts filed by Powerscourt Estates Limited, the tourism and leisure company behind the famous Enniskerry attraction, show pretax profits increased as revenues rose by €2.48 million (34 per cent) from €7.33 million to €9.82 million.
The company counts various members of the Slazenger family as directors. The Powerscourt Estate includes Ireland’s highest waterfall at 121 metres, a major visitor attraction.
The directors stated they were satisfied with the company’s trading performance during the year.
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The firm approved a dividend payment of €808,327, following one of €604,624 in 2022.
Operating profits last year increased by 49 per cent from €2.13 million to €3.17 million and it benefited from €1.22 million in income from other financial assets offset by €229,118 in interest payments.
The €1.22 million included a profit of €300,186 from investments along with an income of €698,299 from shares in group undertakings and an unrealised gain of €221,798 from listed investments.
The firm, which received €21,824 in Government grants last year, recorded post tax profits of €3.49 million after incurring a corporation tax charge of €676,962.
The business charges adults €13.50 and children €5 for admission to the estate’s gardens which stretches over 47 acres and date back to 1731. Admission for adults to the Waterfall is €7.50.
The Powerscourt Gardens include The Walled Gardens, The Japanese Gardens, The Italian Gardens, The Dolphin Pond, The Pet Cemetery and the Pepperpot Tower.
Numbers employed by the business last year increased from 73 to 77, though 29 provide services to other group companies. Staff costs increased from €1.67 million to €1.8 million. Directors’ pay remained constant at €384,411, including €359,010 in emoluments and €25,401 in pension contributions.
Profits last year, which take account of non-cash depreciation costs of €761,720, further strengthened the firm’s balance sheet as accumulated profits increased to €39.5 million.
Shareholder funds reached €41.6 million. Cash funds decreased from €8.2 million to €4.94 million.
The company’s balance sheet also includes financial assets valued at €14.7 million and tangible assets with a book value of €12.1 million.
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