THE entertainments group Break for the Border has reported strong profits growth, boosted by 10 per cent growth in the bars and restaurants, division which in Dublin takes in the Break for the Border bar, the Grafton Plaza Hotel, Sinnotts, Major Tom's and Cafe en Seine.
Sales in the bar and restaurant division were up 10 per cent on the previous year although the company does not give a breakdown of the contribution from the Irish and British operations.
The Gaiety Theatre, which Break for the Border acquired from Mr Gerry O'Reilly last January for £2.8 million, performed ahead of expectations. According to chairman Mr Robert Gunlack, Dublin's popularity as a tourist destination and improved bar margins contributed to the better than expected performance at the Gaiety.
Break for the Border also has an option to acquire Mr O'Reilly's other Irish businesses next year, depending on a certain level of profitability being reached. These businesses include Lillie's Bordello, Bad Bob's and Judge Roy Bean's.
Overall, Break for the Border's turnover jumped 56 per cent to £11.02 million in the six months to the end of September, with pre tax profits up 82 per cent to £521,000.
A 20 per cent increase in the interim dividend has been declared, which will benefit the O'Dwyer family, who own a 19 per cent stake in Break for the Border after they sold most of their Dublin pub interests to Break for the Border.