Neven Maguire’s Cavan venue rebounds with profit of €500,000 last year

The restaurant business operated by Irish chef Neven Maguire returned to profit last year by recording pretax profits of just under €500,000.

New accounts for the TV chef’s MacNean House & Restaurant in Blacklion, Co Cavan, show the pretax profits of €499,901 last year followed pretax losses of €209,227 in 2020, when the pandemic forced the closure of the business for much of that year.

The improved trading enjoyed by Lucon Ltd last year contributed to cash funds more than doubling from €947,876 to €2.13 million.

The business is controlled by Amelda and Neven Maguire and numbers employed increased by three to 47.

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A regular on TV and radio, Mr Maguire recently confirmed he will be closing his restaurant for two weeks over the Christmas and new year period so that staff can enjoy the festive season.

This follows his move in September to close the restaurant on Sundays and to reduce sittings. In a press interview earlier this month, Mr Maguire

said: “We used to do 90 to 100 sittings [a night], now we do 60 guests, so we’ve made some good calls, we feel it’s the right thing to do.”

The company last year recorded post-tax profits of €422,309 after paying €77,512 in corporation tax. It had accumulated funds of €198,194 at the year end.

The business last year benefited from various Covid-19 related grants and supports from the Government totalling €834,973. These comprised €687,338 from the Employment Wage Subsidy Scheme, Covid Restrictions Support Scheme funding of €130,483 and Fáilte Ireland grants of €17,152.