Capital Bars breaks back into profit

Capital Bars, the Dublin-based hotels and bars group formerly called Break for the Border, improved its profits to g485,000 (£292,000) during the six months to 1 April.

This was against a loss of g1.4m (£840,000) during the same period last year.

Turnover was up, by 34% to g21.5m (£13m), as a result of bar and hotel openings. Like-for-like turnover fell by 3%.

Chairman Robert Gunlack said Ireland had faced a "difficult trading environment" in recent months.

The openings - Fireworks, Bobs Bar, Coyote Lounge and the 86-bedroom Trinity Capital hotel - performed well. They contributed g5m (£3m) to group turnover.

Planet Hollywood, in Dublin, which the group bought in September 2000, made a loss of g300,000 (£180,000).

Room revenues at the 75-bedroom Grafton Capital and 54-bedroom Rathmines Capital hotels, both in Dublin, were down by 5% on the previous year.