Corrigan Virginia Park Lodge course profit 2018

  • Corrigan Virginia Park Lodge course profit 2018
    Independent.t. E.
    The famous chef Richard Corrigan says that his company Virginia Park Lodge “is great,” and he expects a small profit this year.
    https://www.independent.ie/business/irish/corrigans-virginia-park-lodge-on-course-for-2018-profit-37197590.html
    https://www.independent.ie/business/article37197589.ece/05d67/AUTOCROP/h342/2018-08-09_bus_43120213_I1.JPG

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The famous chef Richard Corrigan says that his company Virginia Park Lodge “is great,” and he expects a small profit this year.

Mr Corrigan was commenting on new accounts filed by Virginia Park Lodge Ltd., which show that the losses of the company increased slightly and amounted to £466,282 (€517,566) in 2016, and its continuation in the starting phase.

The growth of losses despite a doubling of revenue go from £929,819 to £1.8 m In the 12 months to the end of December 2016. The company still in its investment phase and pre-tax losses in 2016 follow pre-tax losses of £439,671 in 2015. Loss in 2016 emerged from the cost of sales totalling £1.2 m and administrative expenses £943,120. Mr Corrigan says that the loss was “absolutely expected” the case continues in its investment phase.

The alleged profit in 2018, Mr Corrigan said: “real estate will show the makings of a business this year. Overdue this year the big project in development last year”. Loss in 2016 takes into account the hefty non-cash expenses depreciation £275,392.

The number of employed increased from 34 to 53. Mr Corrigan said that he last year invested £1.6 m into the business. He said: “This is a very hungry beast”.

He said: “I am very, very pleased with how the business is going. This is a very personal project. I thought it was going to be a six-year project, but I think it will be 10 years.”

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