Pre-tax profits at Waterford Castle and Golf Resort increased by €2m, or 63.5pc, reaching €5.16m, driven by a 31pc rise in revenues to €13.6m.
The sharp increase in profits was attributed to higher occupancy levels, resulting in operating profits of €5.6m, with a post-tax profit of €4.3m after a corporation tax charge of €832,375.
The resort, situated on a 310-acre private island, maintained employment levels at 110, while staff costs slightly decreased to €3.39m in 2023.
Directors noted rising insurance claims as a potential risk, stating they are managing this by ensuring adequate insurance while monitoring short-term funding needs to maintain operational liquidity.
