Galway brothers rolling in dough as company reports €1.9 million profits
Eugene and Ronan Greaney are sitting on a €816,000 cash pile as the Dough Bros goes from strength to strength, newly filed accounts show
The Galway brothers behind the internationally acclaimed Dough Bros pizzeria are sitting on a cash pile of more than €816,000 after their company recorded accumulated profits of almost €1.9 million in newly filed accounts.
Annual profits for Churchview Foods Limited, the firm that operates the pizza business, nearly trebled to €342,192 during the 12 months to the end of last September, and its cash balance swelled by 241,976.
The firm is owned by brothers Eugene and Ronan Greaney through a parent company. They were paid total remuneration of €515,461 during the financial year, along with pension contributions of €57,718.
The Dough Bros business started from a humble food truck in 2013, and has since expanded to include three outlets in Galway. It recently ranked as the 19th best pizzeria in the world by travel platform, Big 7 Travel.
The latest accounts of Churchview Foods Limited show that annual profits almost trebled from €114,806 in 2024 to €342,192 last year, leaving the company with retained earnings of just under €1.9 million at the end of last September.
An average of 32 staff were employed by the company last year. The directors’ remuneration of €515,461 represented a reduction from the €648,069 that they paid themselves during the financial year to the end of September 2024.
Cash assets increased from €574,386 to €816,362, while total current assets stood at just under €2 million, bolstered by nearly €1.2 million owed by debtors, most of which related to a group undertaking.
The value of the firm’s fixed assets rose from €343,624 to €480,150, driven by significant investment in tangible assets, which grew to €413,151 following €241,608 worth of additions in fixtures, fittings, equipment, and motor vehicles, while intangible assets stood at €66,999.
Amounts owed to creditors falling due within one year rose from €189,247 to €596,242. This included €244,350 in taxation, €104,223 owed to trade creditors, and €149,596 repayable to the company’s directors.
The Greaney brothers also set up another company, Masterplan Pizzaco Limited, in April 2024, which they own through the same parent company, Supernova Pies Limited.
Accounts for Masterplan Pizzaco Limited show that the firm recorded a loss of €44,859 from the time it was set up to the end of last September, owning €276,945 to group undertakings. It had a cash balance of €110,139 at the end of the accounting period.