Oireachtas Joint and Select Committees
Thursday, 19 September 2019
Public Accounts Committee
Bord na gCon Financial Statement 2017
9:00 am
Mr. Philip Peake:
I thank the Deputy for the question. The figures quoted by the Deputy relate to Abargrove Limited, which is responsible for two parts of the operation - the track operations in Newbridge and the food and beverage operations. During the period in question, a loss of €81,000 was made in respect of the track operations in Newbridge. It can be seen from the subsidiary accounts that the catering operations lost €397,000. It is worth noting that profit from catering operations for 2017 was €413,000. An intercompany transaction in the form of concession fees of €810,000 was also paid. The actual profit from catering operations for the 2017 period was €413,000. Subsequently, that figure increased to €545,000 in 2018.
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