Losses at Gonville, the investment company owned by the hotelier Michael Holland, narrowed to €33,149 last year.

This is down significantly from an after-tax loss of €265,963 in the 12 months to 31 December 2013.

The Holland-controlled Gonville group of companies operates the Fitzwilliam hotel in Dublin and the Four Star Pizza master franchise for Ireland and Britain.

Revenue at the group was €1.49 million last year, down slightly from €1.61 million in 2013.

Gonville, which rescued Four Star Pizza in 2011, made a gross profit of €1.3 million, but posted an operating loss of €46,314 following administrative expenses of €1.37 million.

Staff costs, including wages, salaries and employers’ PRSI, amounted to €369,871 last year. The average monthly number of employees during the year was 9, down from 19 in 2013.