Charlie Chawke pub company returns to profit

The company that operates three of Charlie Chawke’s pubs, including Ireland’s most expensive pub, The Old Orchard in Rathfarnham, returned to profit last year with pretax profits of €1.03 million. The pub was bought by Chawke in 2005 for a record €22 million.

Accounts filed by Milltown Inns and subsidiaries for the Old Orchard and the Dropping Well pubs in Dublin and Aunty Lena’s bar in Adare, Co Limerick show it recorded the pretax profits as revenues dipped by 2 per cent from €11.13 million to €10.94 million in the 12 months to the end of October 2025.

A note with the accounts from the directors said that “during the financial year, the group encountered several challenges that impacted overall profitability”.

The note said that while the underlying business operations remained resilient, supported by steady revenue growth across key segments, “profitability was significantly affected by increased interest expenses”.

The accounts said that the group’s EBITDA (earnings before interest, tax, depreciation and amortisation) for the year amounted to €1.42 million “representing a solid level of earnings relative to turnover, despite a decrease in turnover compared to the prior year”.

Along with operating the pubs, the group also owns a number of investment properties.

The pretax profit of €1.03 million last year followed a pretax loss of €5.95 million for 2024 which was due to a non-cash write-down of €6.2 million in the value of its freehold investment property.

In 2025, the group also benefited from ‘other income’ totalling €295,990 which included rental income of €204,490.

The group’s profits were also boosted by booking a €610,678 increase in the value of investment property in 2025. It recorded a post tax profit of €923,343 after incurring a corporation tax charge of €114,406.

The accounts show that interest on loans decreased sharply from €767,183 to €611,726.

The interest costs are mainly connected to the Old Orchard purchase in 2005.

The profits last year take account of combined non-cash depreciation and amortisation costs of €375,428.

The group successfully refinanced its banking arrangements by entering into a new financing facility in February 2025. A note states that “this new facility replaces the existing borrowing arrangement and provides extended credit terms”.

The group’s net debt reduced from €14.36 million to €11.53 million.

Numbers employed decreased from 176 to 167 made up of 159 in ‘bar and restaurant’, six in administration and two in management.

Staff costs totalled €4.27 million.

Shareholder funds at the end of October 2025 totalled €2.77 million.