Profit drop at Gleneagles

Profits at the hotel group which operates the INEC in Killarney fell 7% to €1.3m last year.
 Accounts filed by Gleneagle Holdings Killarney Ltd show the business increased its operating profits after revenues marginally fell from €27.6m to €27.5m.
However, exceptional costs of €280,083 along with interest payments of €1.1m and investment losses of €1.1m resulted in the Gleneagle group recording a pre-tax loss of €1.2m.
 A note attached to the accounts show that a provision of €319,787 was made for a public liability claim brought against the group.
 Staff numbers fell from 418 to 401 and staff costs increased from €11.6m to €11.7m.



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