New accounts filed by Mr Crosbie’s Liberty Venues Ltd, which operates Vicar Street, show that the figure for 2024 followed operating profits of €621,303 in 2023 – a jump of 115pc.
However, after taking into account combined non-cash depreciation and amortisation costs of €775,616 in 2024, the company recorded a post-tax profit of €562,661.
This followed a post-tax loss of €188,615 in 2023 – a positive swing of €751,276 over the two years.
Revenues were boosted last year by a string of Christy Moore gigs in early 2024 and the Co Kildare man is due to commence 11 gigs at Vicar Street on selected dates from this month to March 2026.
The Dublin venue is owned by Mr Crosbie and operated by one of the country’s most successful promoters, Peter Aiken of Aiken Promotions.
Vicar Street, which has a seated capacity of 1,050 and standing capacity of 1,500, opened in 1998 and the venue was extended in 2002.
The accounts – signed off by Harry Crosbie and Rita Crosbie last month – show that the firm’s post profit last year reduced the firm’s accumulated losses from €1.76m to €1.2m.
Cash funds at the business reduced slightly from €898,621 to €889,403.
Numbers employed by the venue firm last year reduced from 52 to 41.
Mr Crosbie has been responsible for three of the largest entertainment venues in Dublin, the Point Theatre – now the 3Arena – and the Bord Gáis Energy Theatre along with Vicar Street. He also played a part in the development of the National Convention Centre.
At the end of last year, Liberty Venues Ltd owed €575,664 to Mr Crosbie which was down from €909,078 owed at the start of 2024.
Last December, Mr Crosbie secured planning permission for the planned Vicar Street hotel scheme close to the Vicar Street venue.
At the time, Mr Crosbie said the planned four-star 182-bedroom Vicar Street ‘Rock and Room’ concept hotel “will be a huge addition to the area”.
At the time, Mr Crosbie said Vicar Street “punches above its weight and is much loved in the industry and people will love the ‘rock and room’ offer at the hotel”.
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