Or­der’s Kyle­more Trust en­joys €1.375m wind­fall

Irish Independent - Business Week - - FRONT PAGE - Gor­don Deegan

The nuns’ trust that owns the iconic Kyle­more Abbey and Gar­dens last year en­joyed a €1.375m wind­fall as the Co Gal­way at­trac­tion en­joyed fur­ther growth.

New ac­counts show that the Bene­dic­tine nuns-owned trust, Kyle­more Trust, charged rent of €800,000 to the Kyle­more Abbey and Gar­dens last year.

In ad­di­tion, the nuns’ Trust also re­ceived a char­i­ta­ble dona­tion of €575,000 from the firm last year.

Kyle­more is open all year round and vis­i­tor num­bers are split be­tween 80pc overseas and 20pc Ir­ish – US vis­i­tors make up the high­est pro­por­tion of overseas vis­i­tors.

The nuns through their firm, Kyle­more Abbey and Gar­dens Ltd, took back the run­ning of the Co Gal­way tourist at­trac­tion at the end of 2014.

That firm last year recorded a mod­est pre-tax profit of €11,639 af­ter the pay­outs. The profit takes ac­count of non­cash de­pre­ci­a­tion costs of €259,592.

The firm’s gross profit in­creased from €5.2m to €5.4m.

The char­i­ta­ble dona­tion and the rent is ex­pected to fund the cap­i­tal ex­pen­di­ture into the at­trac­tion and crit­i­cal con­ser­va­tion and restora­tion work at the des­ti­na­tion. The cash pile at the nuns’ Abbey and Gar­dens Ltd firm in­creased from €346,795 to €487,122. Sis­ter Máire Hickey and di­rec­tor of the re­sort firm, Peter Allen, sign off on the ac­counts. Num­bers em­ployed by the firm last year in­creased from 79 to 90, with staff costs in­creas­ing from €1.84m to €1.94m.

Kyle­more is not just a his­tor­i­cal at­trac­tion, but a liv­ing one and vis­i­tors can see the nuns in their habits walk­ing around the grounds. The Bene­dic­tine Nuns came to Kyle­more in 1920 af­ter their abbey in Ypres, Bel­gium was de­stroyed in World War I.

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