A firm that operates three of Charlie Chawke’s pubs, including Ireland’s most expensive pub, The Old Orchard in Rathfarnham, returned to profit last year to record pre-tax profits of €1.03m.
New consolidated accounts filed by Milltown Inns and subsidiaries for the Old Orchard and the Dropping Well pubs in Dublin as well as the award-winning Aunty Lena’s bar in Adare, Co Limerick show it recorded the pre-tax profits as revenues dipped by 2% from €11.13m to €10.94m in the 12 months to the end of October 2025.
The directors state that “during the financial year, the group encountered several challenges that impacted overall profitability”.
They state that while the underlying business operations remained resilient, supported by steady revenue growth across key segments, “profitability was significantly affected by increased interest expenses”.
The directors state that the group’s EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) for the year amounted to €1.42m “representing a solid level of earnings relative to turnover, despite a decrease in turnover compared to the prior year”.
Along with operating the pubs, the group also owns a number of investment properties.
The pre-tax profit of €1.03m last year followed a pre-tax loss of €5.95m for 2024 which was due to a non-cash write-down of €6.2m in the value of its freehold investment property.
In 2025, the group also benefited from “other income” totalling €295,990 which included rental income of €204,490.
The group’s profits were also boosted by booking a €610,678 increase in the value of investment property in 2025.
It recorded a post tax profit of €923,343 after incurring a corporation tax charge of €114,406.
The accounts show that interest on loans decreased sharply from €767,183 to €611,726.
The interest costs are mainly connected to the Old Orchard purchase – in 2005 Mr Chawke paid out a record €22m for the pub.
The profits last year take account of combined non-cash depreciation and amortisation costs of €375,428.
The group successfully refinanced its banking arrangements by entering into a new financing facility in February 2025. A note states that “this new facility replaces the existing borrowing arrangement and provides extended credit terms”.
In a post balance sheet event, a note states that the group undertook refurbishment works to its property at an estimated cost in excess of €200,000.
On the risks facing the business, the directors state that “sales are exposed to changes in general economic conditions in Ireland”.
“However, the business forms part of the Chawke Group, one of Ireland’s best-known pub groups, providing the business with the support, experience and established market presence of a well-known hospitality group,” they say.
The group said its net debt reduced from €14.36m to €11.53m.
Numbers employed decreased from 176 to 167 made up of 159 in “bar and restaurant”, six in administration and two in management.
Staff costs totalled €4.27m.
Shareholder funds at the end of October 2025 totalled €2.77m.
Reporting by Gordon Deegan
