Pre-tax profits at the company behind the Powerscourt Estate in Enniskerry, Co Wicklow last year declined by 27% to €2.49m.
New accounts filed by Powerscourt Estates Limited, the tourism and leisure company behind the famous Enniskerry attraction, show that pre-tax profits decreased as revenues rose by €1.1m - or 18% - from €6.23m to €7.33m.
The pre-tax profits of €2.49m follow pre-tax profits of €3.41m in 2021.
The company counts various members of the Slazenger family as directors, including general manager, Sarah Slazenger.
The Powerscourt Estate includes the major visitor attraction of Ireland's highest waterfall which cascades down 121 metres.
The firm last year approved a dividend payment of €604,624 and this followed a dividend payout of €676,258 in 2021.
The directors state that they are satisfied with the company's trading performance during the year.
The tourist company last year recorded operating profits of €2.13m and it benefited from €605,510 in income from other financial assets offset by €250,012 in interest payments.
The €605,510 in income from other financial assets was made up of a profit of €403,790 from the disposal of investments along with an income of €404,650 from shares in group under-takings offset by a loss of €202,930 from listed investments.
The firm also received €23,514 in Government grants last year which was down sharply on the €220,882 received in 2021.
The company recorded post tax profits of €1.8m after incurring a corporation tax charge of €675,724.
The business charges adults €12.50 and children €5 for admission to the estate's gardens which stretches over 47 acres. The gardens date back to 1731.
The Powerscourt Gardens include The Walled Gardens, The Japanese Gardens, The Italian Gardens, The Dolphin Pond, The Pet Cemetery and the Pepperpot Tower.
Numbers employed by the business last year increased from 68 to 73 though 28 of the total provide services to other group companies.
Staff costs increased from €1.62m to €1.67m. Directors' pay last year increased from €379,447 to €384,379 made up of €359,379 in emoluments and €25,000 in pension contributions.
The profits last year take account of non-cash depreciation costs of €540,556. The firm's cost of sales totalled €1.94m while administrative expenses totalled €3.27m.
The profit last year further strengthened the firm's balance sheet as accumulated profits increased to €36.8m.
Cash funds decreased from €8.89m to €8.2m.
The company's balance sheet also includes financial assets valued at €11.57m and tangible assets with a book value of €10.4m.
Reporting by Gordon Deegan
