The Magherafelt-based company behind some of the best known pubs in Belfast and Derry has reported a pre-tax profit of £3.6 million for the year to November 2023.
Birch Village Company is owned by Derry’s former all-Ireland winning captain Henry Downey and his brothers Seamus and John.
Their hospitality portfolio includes McHugh’s, Hellcat Maggies, The Kitchen Bar, The Thirsty Goat and 21 Social in Belfast.
The Downeys also operate Metro and a second Thirsty Goat venue in Derry City, as well as Downey’s Bar in Magherafelt.
According to a report filed with Companies House, the group employed an average of 272 people in 2023.
The Downey brothers added Kelly’s Cellars to their expanding hospitality group in May this year in a deal believed to be worth between £4.5m and £5m.
The Bank Street venue, which dates back to 1720, is considered one of Belfast’s oldest pubs.
The latest accounts for Birch Village, which pre-date the Kelly’s deal, show the company increased its revenues by 12% to £11.98m in the 12 months ending November 30 2023.
Rental income accounted for just £619,322 of the group’s revenue.
Overall, the group’s operating profit surged by 39% to £3.6m.
After paying £523,242 in interest and £910,622 in tax, Birch Village ended the year to November 30 2023 with a bottom line profit of £2.7m, around 16% up on the £2.3m bottom line profit for 2022.
In the report, published by Companies House, the group’s directors said they expect the recent financial performance will be sustained for the foreseeable future.
