Powerscourt Estate profits down 27pc to €2.49m

New accounts filed by Powerscourt Estates Limited, the tourism and leisure company behind the famous Enniskerry attraction, show that pre-tax profits decreased as revenues rose from €6.23m to €7.33m.

The pre-tax profits of €2.49m follow pre-tax profits of €3.41m in 2021.

The company counts various members of the Slazenger family as directors, including general manager Sarah Slazenger.

Powerscourt Estate includes the major visitor attraction, Ireland’s highest waterfall which cascades down 121 metres. The firm last year approved a dividend payment of €604,624 and this followed a dividend payout of €676,258 in 2021.

The directors state they are satisfied with the company’s trading performance during the year.

The tourist company last year recorded operating profits of €2.13m and it benefited from €605,510 in income from other financial assets offset by €250,012 in interest payments.

The income from other financial assets was made up of a profit of €403,790 from the disposal of investments along with an income of €404,650 from shares in group under-takings offset by a loss of €202,930 from listed investments.

The firm also received €23,514 in government grants last year which was down sharply on the €220,882 received in 2021.

The company recorded post-tax profits of €1.8m after incurring a corporation tax charge of €675,724.

The business charges adults €12.50 and children €5 for admission to the estate’s gardens which stretches over 47 acres and the gardens date back to 1731. Powerscourt Gardens include The Walled Gardens, The Japanese Gardens and The Italian Gardens.

Numbers employed by the business last year increased from 68 to 73 though 28 of the total provide services to other group companies.

Staff costs increased from €1.62m to €1.67m. Directors’ pay last year increased from €379,447 to €384,379 made up of €359,379 in emoluments and €25,000 in pension contributions.

The profits take account of non-cash depreciation costs of €540,556. Accumulated profits increased to €36.8m. Cash funds decreased to €8.2m.