Roly's Bistro owners earn €1.33m

The owners of Roly's Bistro in Ballsbridge, Dublin, made in excess of €1.33 million from the business last year. In 2004 they made in excess of €1.5 million.

The bulk of the profits was paid out in fees to companies owned by shareholders John and Angela O'Sullivan and Frank McHugh.

Directors' remuneration of €379,745 was also paid during the year. The executive directors are John and Angela O'Sullivan and Colin Daly.

The O'Sullivans' company, O'Neill Restaurants (Dublin) Ltd, charged €683,855 during the year for management and consultancy services to Roly's Bistro.

Frank McHugh's Direct Personal & Corporate Finance Ltd charged €272,666 during the year for management and consultancy services.

Accounts for Wappinger Food Company Ltd, trading as Roly's, show that pretax profit for 2005 was €10,107. The profit figure the previous year was €79,542.

Mr O'Sullivan said that the restaurant's turnover had increased but overheads had also increased, leading to little increase in profitability.

In particular, he mentioned electricity and gas prices, saying that the former had gone up by 37 per cent in the past two years.

He also said it costs the restaurant €50,000 a year to get rid of its waste. The accounts show gross profit for the year was €4.72 million, up from €4.644 million in 2004.

The accounts do not give a figure for staff costs.

Mr O'Sullivan said the waiting staff at the restaurant are paid the minimum rate as set out by the Catering Joint Labour Committee that covers Dublin restaurant pay rates.

The current rate varies between €6.25 and €8.35 per hour, depending on training.

The restaurant applies a 10 per cent service charge for all sittings and the takings from this are divided among all non-management staff.

Mr O'Sullivan said that, technically, the money raised through the service charge could be used to pay the minimum rate and that there were occasional weeks where €20 to €30 of wages came from service charge receipts.

However, he said that most weeks the service charge receipts were paid over and above wages. Staff also receive tips.

The latest annual return for Wappinger show the shareholders are: John Mulcahy, Camolin, Co Wexford (3.8 per cent); Paul Cartwright, Dublin 24 (6.7 per cent); Colin O'Daly, Dublin 2 (15.5 per cent); John and Angela O'Sullivan, Blackrock, Co Dublin (49 per cent); and Frank McHugh, Dublin 18 (24.6 per cent).

The directors are: Mr and Ms O'Sullivan, Mr McHugh, and Mr O'Daly and Mr Cartwright. Mr O'Daly and Mr Cartwright are chefs.