PROFITS AT the well-known Ballsbridge restaurant Roly’s Bistro increased last year in spite of a reduction in average spend by customers.
Accounts for Wappinger Food Corporation show that Roly’s made a pretax profit of €268,791 in the year to the end of December 2009. This compared with a surplus of €3,822 in the previous year.
Roly’s gross profit fell by almost one-quarter to just under €3 million as customers cut back on spending. The restaurant countered this by shaving €700,000 off its administrative expenses while “other operating income” trebled to €744,020.
The other income relates to a cafe that operates at the ground floor level in Roly’s. This is owned by a company called Roly’s Bistro Ltd, which in turn is 77.5 per cent controlled by Wappinger.
The cafe made a profit of €51,418 last year.
Speaking to The Irish Timesyesterday from his base in Florida, John O'Sullivan, who along with his wife Angela is a major shareholder in the business, said Roly's had cut its prices in response to the recession. "Customer spend is down maybe €3 per person," he said.
Customers are spending on average around €25 each for dinner in its cafe, while spending in its main restaurant is around €48 to €55, including alcohol, he added.
In relation to current trading, Mr O’Sullivan said: “It’s tough but we’re holding our own. We have got a big break in the past few months with the Aviva Stadium opening. That’s a big help.”
Roly’s wage bill fell last year to €1.8 million from €2.5 million in 2008. The restaurant’s 94 staff were paid an average €19,500 in 2009 compared with €25,500 in the previous year.
