Dublin pub group Grand Slam Bars saw pretax profits nearly double to €983,000, as revenues grew following the group’s midyear acquisition of McSorley’s in Ranelagh.
In newly filed financial accounts, the group said its performance “has continued to improve year on year” noting that turnover has increased from €9.4 million to €11.3 million.
The bar group is owned by Noel Anderson, the former chairman of the Licensed Vintners Association (LVA), along with four former Irish international rugby players Jamie Heaslip, Sean O’Brien, and the Kearney brothers Rob and Dave.
Grand Slam Bars owns the Bridge bar in Ballsbridge, the Blackrock in the south Dublin suburb of the same name and the Lemon & Duke and Little Lemon in the city centre. During the financial year, it bought McSorley’s pub in Ranelagh, Dublin 6, for €5.5 million.
RM Block
The majority of the group’s turnover – €7.3 million, or around two-thirds of revenue – was generated from the sale of alcoholic drinks. This represented a significant increase on drinks sales in the previous year at €5.75 million.
Food sales also increased, up marginally to €3.8 million, alongside tea and coffee sales which rose from €44,000 to €133,000.
The group saw pretax profits increase by 90 per cent from €518,000 in the financial year ending in February 2024 to just over €983,000 this past year. The group’s assets have risen to €14.6 million from just over €8 million in 2024.
Buoyed by the acquisition of McSorley’s pub, the company had an average of 153 employees, an increase of 16 jobs on the previous year. Staff costs also rose to just over €4.1 million from nearly €3.8 million.
Borrowings at the firm are up from €2.1 million in 2024 to €7.28 million with a mortgage, which is secured against the group’s pubs, having been added to the company.
The former international rugby player investors in the group serve as directors on its subsidiary firms and directors “ambassador fees” during the year came to €55,000.
Mr Anderson is also a shareholder in the Changing Times Brewery, which is making local stout and lager, which owed the group early €150,000 at year end.
Grand Slam Bars has been contacted for comment.
