Belfast Telegraph

Company Report: Tullymore House

 

John Simpson

By John Simpson

Tullymore House is the parent company which is the owner of three subsidiary businesses: Ballymena based Galgorm Manor Hotel, Fratelli (Belfast) and Fratelli (Ormeau Road).

More recently, in April 2019, the group has bought the trade and assets of the Templeton Hotel at Templepatrick through a new subsidiary (reviving the name of) Pig and Chicken Inn.

The main business of the group is described as the provision of hotel, spa, restaurant, bar facilities and property development. The group aims to develop a tourism product and hospitality provision for both the local economy and as an international tourism destination.

It reports that it strives to deliver premium customer services and adds that it is 'carefully exploring selective expansion opportunities'.

In 2017 the group sold one of its then subsidiaries, the Bedford Hotel in Belfast which, with new owners, now plans to trade as the George Best Hotel.

That sale for £5.5m caused a one-off contribution to the operating profits in 2017 which influences the comparative operating and pre-tax profits over the last three years.

Turnover for the group has continued to increase year on year and, setting aside the exceptional item in 2017, has led to steady improvements in operating and pre-tax profits. In each recent year, the group has continued to commit to a significant capital investment programme.

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In 2018, the group paid dividends to shareholders of £1.1m. This compared with dividends of £4.1m in 2017. Employment rose in 2018 to an average of 526 people.

Belfast Telegraph

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