[dropcap]DCU[/dropcap] Students’ Union is in a “non-financial relationship” with the nightclub Copper Face Jacks, which this year earned €72 million in accumulated profits.
Copper Face Jacks on Dublin’s Harcourt Street, last year recorded pre-tax profits of €5.16m – or just under €100,000 per week for the company Breanagh Catering Ltd, according to thejournal.ie.
Due to construction, DCU does not have a purpose-built venue to host society events, and there is a visible lack of events held on campus compared to other years, according to SU president Niall Behan.
When looking for other venue options which included the Regency Hotel, Wrights Venue, Access Theatre and even the Omni shopping centre after hours, Behan said they had the idea of Copper Face Jacks.
“What goes on at Copper Face Jacks between seven and eleven? Nothing,” he said.
“So usually they charge a rental fee, but we went in and had a meeting with them and were like look, if this is something that you can offer to clubs and societies we’d like to have an official-unofficial partnership,” Behan said.
“It’s completely non-monetary. We look out for them; for example if we had an event like the Halloween ball, the buses went into town we were like look, it’s free into Coppers. Which is our way of thanking them, but on their end they offer clubs and societies free venue hire and then they get free in that night as well.”
“DCU students are going to be going to Coppers anyway, we’re kind of facilitating what is already happening, but we’re not contributors,” he said.
Last year, the company’s accumulated profits increased from €67.58m to €71.96m.
The cash mountain at the Coppers firm last year jumped by €5.1m from €54.79m to €59.84m. This refers to the money that a company has available to spend, for example to buy other companies, or to give to shareholders.
Pay to directors went from €684,498 to €790,568 last year which makes a pre-tax weekly pay of €15,203 for owner Cathal Jackson and board member Paula Jackson.
The number employed by the company increased from 195 to 218 with staff costs increasing from €3.94m to €4.42m.
Fionnuala Walsh