Staycations boost profits at Martin Shanahan’s Fishy Fishy restaurant in Kinsale

Pre-tax profit at TV chef Martin Shanahan’s Fishy Fishy restaurant in Kinsale rose 53% last year to over €388,000.

New reports show that Mr Shanahan’s Kinsale Gourmet Store Ltd enjoyed earnings growth as it benefited from the easing of Covid-19 restrictions here in the summer of 2021.

The award-winning restaurant’s pre-tax profit of €388,229 last year is followed by a pre-tax profit of €252,839 in 2020.

The company, which employed 36 people last year, benefited from the staycationer surge in the summer of 2021 as the vast majority of people chose to holiday here rather than abroad.

Accounts signed on September 22 show the company’s cumulative profits have increased from €3 million to €3.33 million.

During the same period, the company’s cash and cash equivalents almost doubled from €647,563 to €1.13 million.

This year, the restaurant has retained its Michelin Bib Gourmand award, which recognizes restaurants that offer good food at affordable prices.

The company’s after-tax profit amounted to EUR 336,639 last year.

Non-cash depreciation costs of €98,767 are taken into account in the annual surplus.

The abridged accounts do not provide sales figures for the year.

Mr. Shanahan, one of the country’s leading seafood chefs, founded Fishy Fishy in 2006 and today has a capacity for 160 customers.

The restaurant includes The Blue Room, which opened in 2019 and features a private bar and balcony with harbor views.

Management Board remuneration more than tripled in the past year from €99,087 to €310,096 and consists of €122,598 in remuneration and €187,498 in pension contributions.

The award-winning restaurant is run by Martin and his wife, Marie Shanahan.

The two originally opened their Kinsale Gourmet Store in 1990.

The success of the fish shop and deli prompted the pair to expand the business, culminating in the opening of their restaurant, Fishy Fishy.

In 2009, Martin embarked on his first adventure in television, directing the first in a successful series of television programs. Martin’s Mad About Fish.

https://www.independent.ie/business/irish/staycations-boost-profits-at-martin-shanahans-fishy-fishy-restaurant-in-kinsale-42062375.html Staycations boost profits at Martin Shanahan’s Fishy Fishy restaurant in Kinsale

Fry Electronics Team

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