After-tax profits at Darina Allen’s Ballymaloe Cookery School fell 7 per cent last year to €86,876 as costs increased, its latest accounts show.
Still, the renowned east county Cork cookery school business continued its recovery from Covid-19 shutdowns as accumulated profits increased to €2.82 million. The business continued to record profits last year on the back of the school’s flagship in-demand 12-week cookery course.
There is a waiting list for the school’s next three scheduled 12-week courses in September, January and April of next year. The cost this year for the course is €13,795 rising to €14,495 for 2024.
The school – majority owned by Darina Allen – stages three 12-week cookery certificate courses each year.
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The profits of €86,876 for 2022 and €93,670 for 2021 followed losses of €193,097 during the Covid-19-hit 2020.
Director at the school and shareholder in the business, Toby Allen said on Monday: “Ballymaloe Cookery School is very happy to have made a profit for the year 2022. It was a busy year and while the school was not quite up to full capacity after the pandemic, we were very busy and welcomed 180 12-week students and over 1,200 other students from all over the world to the school to learn how to cook.
“2023 is thankfully looking like another busy year and our 12-week course for the year is fully subscribed.
“We would hope we are on target for similar profits for 2023,” he added.
The 12-week course attracts a sizeable international contingent and Mr Allen said: “On our most recent 12-week course which ran from April to July, we welcomed students from 14 different countries to the cookery school.”
On the challenges facing the business, Mr Allen said: “The increase in cost of electricity and gas have been challenging for us to keep under control, but we got a good fixed deal from our supplier allowing us to have certainty in these costs.”
As the school returned to full capacity last year its staff costs, net of Covid-19 wage supports, doubled from €1.07 million to €2.2 million with employee numbers increasing by three to 66.
The profits last year take account of non-cash depreciation costs of €148,184 while directors’ pay rose from €243,989 to €288,665. The company’s cash funds reduced from €1.73 million to €1.27 million.
