Restaurant Manager at one of Ireland’s most celebrated restaurants, Restaurant Patrick Guilbaud said that the restaurant is close to achieving its third Michelin star.
Stéphane Robin made his comment today as new accounts for Becklock Ltd, which operates Restaurant Patrick Guilbaud, show that post tax profits last year increased by 6% to €124,563.
The new accounts show that the post tax profits of €124,653 in the 12 months to the end of August last year follow post tax profits of €117,770 for prior year.
Accumulated profits at the end of August last year stood at €2.63m while cash funds reduced from €1.38m to €995,070.
Mr Robin leads the business with Patrick Guilbaud and Executive Chef, Guillaume Lebrun and Mr Robin said that business last year was good and revenues “increased marginally”.
He said that this year, profits may be slightly down on last year due to increased costs.
He said: “Business is still very good and we are all very busy.”
He said: “For everyone here, it is head down, do your best and watch every penny.”
Today, Restaurant Patrick Guilbaud is one of five two-star Michelin restaurants operating here.
Mr Robin said that the restaurant is always working to secure the third star. He said: “Don’t kill the dream.”
He said: “The restaurant is always improving – are we close to the third? I believe so. It will come when it will come.”
The Michelin Guide staged its annual awards ceremony earlier this year in Dublin leading to speculation that an Irish restaurant might attain a third star, but no restaurant here received that accolade.
Asked was he disappointed that the restaurant didn’t get the third star, Mr Robin said: “Not really.”
Looking back on when the restaurant got its first and second stars, Mr Robin said: “It is always a surprise and a joy. We had a big party each time – we work for the third star all the time.”
He said: “If it comes it comes, if it doesn’t, it doesn’t affect the business, it is fine, we have a huge local clientele.”
The restaurant – housed in the five star Merrion Hotel in Dublin – secured its second Michelin star in 1996 and has retained it since.
The restaurant benefited from the recent reduction in VAT from 13.5% to 9% and asked if the reduction was passed onto customers, Mr Robin said ‘not really’.
He said that what has been gained with the reduction has been absorbed by cost increases this year including higher cost of pensions and pay.
He said that the cost of food has also increased with the cost of wild fish to the business increasing by 30% in the last two years.
Last year numbers employed increased by one to 38 as staff costs rose from €1.47m to €1.87m and this included directors’ pay of €505,629 made up of €284,029 in emoluments and €221,600 in pension contributions.
The profits last year take account of non-cash depreciation costs of €189,209.
Mr Robin said the fact that there are now five two-star Michelin restaurants in Ireland is good for business.
He said: “When we were the only one we were always struggling to explain what we were doing. Now that there are five two Michelin star restaurants, that is fabulous because we are all different.”
Patrons of the restaurant can pay €95 for a lunch menu up to, €180 for a three course meal from the a la carte menu and €290 for an eight course tasting menu.
One of the restaurant’s best known dishes is its Ravioli of Blue Lobster appetiser and Mr Robin laughed when he said: “Each time we try to remove it from the menu, people complain and we have to put it back.”
Mr Robin said that the restaurant was very proud to win Best Restaurant in Ireland at the Irish Restaurant Awards in May. He said: “It has been 11 years since we last won – it is amazing when the trade recognises the work you do.”
Mr Robin said: “When we opened in 1981 there was no market – the interest rate was 27% and the VAT rate was 25%.”
Reporting by Gordon Deegan
