Profits in 2021 came after a £10m loss in the previous year
Three members of the Desmond family sit on the board of the joint venture company – Denis Desmond, his wife Caroline Desmond and their son Zach Desmond.This week we got a look at two reports into economic activity in Ireland, one from Enterprise Ireland and the other from Bord Bia. Eoin Burke Kennedy explains what we learned about the performance of homegrown businesses and within the growing food sector.
In a post balance sheet event, the accounts show that this year, the group purchased a non-controlling interest in an unnamed festival for an initial payment of £6.9 million. With the easing of Covid restrictions in 2021, numbers attending LN Gaiety Holding events increased more than three-fold from 999,062 to 3.26 million in 2021.
The directors note that the majority of the group’s business is in the UK while it has an operating subsidiary in the Republic. A breakdown of revenues shows that £195.69 million was generated in the UK and £10.29 million in ‘Europe’.
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