The company behind Vicar Street in Dublin swung back into profit last year, helped by five sold out nights from Belfast rap trio Kneecap that drew an estimated 7,500 attendees to the 1,500-capacity venue.
The latest accounts for Liberty Venues show the company made a profit of €562,661 in the year ended December 31st, 2024, which was up from a loss of €188,614 a year before.
As the company had net liabilities of €1,767,934 at the start of 2024, these was reduced to €1,205,273 at the end of it. The accounts also show the business generated €81,179 from beverages sold, which was down from €93,507.
Harry Crosbie, who is a company director and founder of the venue, put €274,070 into the company during the year, which was down from €718,168 the year before.
RM Block
He was already owed €909,078, and was paid €607,484 during the year, leaving a balance of €575,664 owed at year end.
[ Harry Crosbie wins permission for Vicar Street hotelOpens in new window ]
His wife, Rita Crosbie, also put money into the company last year, and was owed €885,028 at the year-end.
The average number of people employed by the company during the year, including the directors, was down by nine to 41.
Mr Crosbie said he had no comment to make on the accounts when contacted.
The company’s performance was aided by the Kneecap gigs in October, which sold out in minutes, attracting celebrity fans like Ed Sheeran. The trio’s run of five sold-out shows was earlier matched by Christy Moore in January.
In addition, The Mary Wallopers played a four-night run at the venue in December as part of their Seven Drunken Nights Christmas tour. Other major acts included a single night from Elvis Costello and Steve Nieve.
The results have been published weeks after Mr Crosbie recently won planning permission for a four-star 182-bedroom Vicar Street “Rock and Room” concept hotel for Dublin’s Liberties.
The council granted planning permission to Mr Crosbie’s Vicar Street Hotel Ltd for the eight-storey hotel despite receiving 40 objections.
Mr Crosbie has been trying to construct a hotel at the site since 2008 when planning permission was first approved. However, the global economic crash that followed and the Covid-19 pandemic stalled these efforts.
