Operating profits at Yelsea Ltd, which runs Ballynahinch Castle hotel, fell 30pc to €307,122 in 2024.
Revenues increased by 6pc to €9.02m despite the profit drop. Pre-tax loss stood at €448,052 after interest expenses of €755,174. Shareholder loan totalled €15.37m, with €4.23m in accumulated interest payable. Staff numbers rose from 97 to 102, lifting costs from €3.36m to €3.63m.
The directors shared: “The principal risk and uncertainties are the continuing inflationary pressures on costs, global instability and unfavourable exchange rate movements that could impact international travel, particularly from the US, and any potential slowdown or contraction in the Irish economy in the future.”
