Miche­lin-starred Chap­ter One sees prof­its jump to €500,000

Irish Independent - Business Week - - Front Page - Gor­don Dee­gan

AC­CU­MU­LATED prof­its at the firm that op­er­ates the dec­o­rated Dublin restau­rant co-owned by the ‘Queen’s chef’, Ross Lewis last year al­most dou­bled to €490,571.

Chap­ter One, on Dublin’s Parnell Square, is one of 13 Miche­lin-starred restau­rants in Ire­land – in­clud­ing the North.

New ac­counts filed with the Com­pa­nies Of­fice show that the ac­cu­mu­lated prof­its in­creased by 72pc from €285,269 to €490,571 in the 12 months to the end of Fe­bru­ary 28 this year.

Cork na­tive, Mr Lewis has long been known as one of Ire­land’s best chefs and dur­ing the same 12-month pe­riod, Lind­ley Ltd’s cash pile in­creased go­ing from €387,353 to €570,842.

The restau­rant is cur­rently closed for an­nual hol­i­days to Au­gust 14 but when open, pa­trons can en­joy a four-course meal for €80 that in­cludes ‘Salt marsh duck, tart of red Joya ap­ple, smoked ba­con, fen­nel pollen, pick­led wal­nut’ and ‘Stuffed quail, vi­o­let as­para­gus, bar­ley, spelt, and grelot onion’. It em­ploys 35 staff and the wage bill last year de­creased from €1.093m to €1.01m. Di­rec­tors’ re­mu­ner­a­tion in­creased from €241,098 to €295,370.

The busi­ness has a loan of €718,138 to a con­nected com­pany while its eq­uity in­vest­ment is val­ued at €231,948. In 2015, Lewis ex­panded his food op­er­a­tion with the open­ing of Ital­ian restau­rant Os­te­ria Lu­cio on Dublin’s Grand Canal Quay.

Sep­a­rate ac­counts filed for the firm be­hind Os­te­ria Lu­cia, Tri­on­view Ltd show that the com­pany’s ac­cu­mu­lated prof­its in­creased from €140,117 to €149,839 in the 12 months to the end of Fe­bru­ary 28, 2017.

Num­bers em­ployed by the com­pany in­creased to 36 with salary costs at €558,166.

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