Griffith College Dublin, the fee-paying college owned and run by Diarmuid Hegarty, saw a sharp drop in pre-tax profits to €441,500 last year.
Accounts just filed by Bellerophon, the company behind the college, show the drop in profits from more than €993,000 a year earlier.
The drop came even as gross profit at Bellerophon rose to €7.8 million from €6.6 million in the previous year.
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