Profits at one of the country’s most storied pubs, O’Donoghue’s on Merrion Row in Dublin last year plummeted by 91pc to €37,955 to the Covid-19 pandemic impact.

According to new accounts for O’Donoghue’s (Merrion Row) Ltd, the company recorded the €37,955 post tax profit in the 12 months to the end of June last year.

The modest profits of last year came after Covid-19 shut the doors of the pub for almost a third of its financial year.

The pub shut its doors on 13 March last year with the pub sector one of the hardest hit during the pandemic.

The €37,955 profits for the 12 months to the June last follow consistently strong profits of €434,020 in 2019, €521,152 in 2018 and €452,098 in 2017.

Throughout the course of the pandemic, the company has availed of Government supports with Revenue figures showing that the company availed of the Temporary Wage Subsidy Schemes (TWSS) and the Employment Wage Subsidy Scheme (EWSS).

The profit for last year takes account of non-cash depreciation costs of €166,392.

The company also paid out a dividend of €42,450 last year.

The profit off-set by the dividend pay-out resulted in accumulated profits dipping from €1.965m to €1.961m.

The company's cash pile decreased from €2.95m to €2.88m.

The pub is owned and operated by the Barden family.

Numbers employed at the company last year remained static at 20.

Remuneration for directors declined from €154,698 to €128,967.

The pub has long been associated with traditional Irish music and the Dubliners in particular who began to play at the pub in the 1960s.

The premises was built in 1789 and in 1934 began operating as a full-time pub when Maureen and Paddy O‘Donoghue began running the bar.

Oliver Barden purchased the pub in 1988 and shareholder funds at the company last year totalled €9.3m that included €7.42m in a revaluation reserve.

The company’s loans to credit institutions reduced from €114,396 to €63,489 during the year.