Former Dubs boss's company scores 26pc boost in pre-tax profit
Published 09/07/2013 | 05:00
Dublin All-Ireland winning football manager Pat Gilroy may have lost on the pitch last year, but the company he leads continued to enjoy success in 2012.
Gilroy resigned as Dublin manager last August after the All-Ireland semi-final loss to Mayo, but new figures show that the services firm, Dalkia, he leads in Ireland continues to enjoy millions in profits.
According to accounts just filed with the Companies Office, Dalkia Ireland recorded a 26pc increase in pre-tax profits, going from €4.9m to €6.2m in the 12 months to the end of December last.
Mr Gilroy is managing director of the Dublin-based Dalkia, where employee numbers last year dropped from 441 to 355.
The largest drop in personnel occurred in operations where employee numbers decreased from 331 to 234.
As a result of the drop in employees, staff costs last year declined from €23m to €19.9m.
The French-owned firm enjoyed the sharp increase in pre-tax profits in spite of revenues marginally dipping last year from €74.2m to €72.2m.
The principal activities of Dalkia Ireland are the provision of managed energy; utilities services; operation of combined heat and power plants; and lighting installation and maintenance in public areas.
According to the directors' report, "the directors are pleased with the performance of the group for the year under review".
Five directors, including Mr Gilroy, enjoyed a 79pc increase in pay and pensions, which increased from €290,455 to €522,634.
Dalkia had accumulated profits of €24.4m last year. Total shareholder funds of €41.2m included cash of €25m.
A dividend of €1.5m was paid during the year to immediate parent Dalkia International SA.
The directors' report states: "The group will also actively review and pursue strategic investment opportunities that will complement the existing service offering to its multiple sector client base."
The figures show that operating profits at the firm increased by 26pc from €4.25m to €5.34m. The firm also received net finance income of €923.792, boosting the firm's profits.
The figures show that cost of sales declined from €61.1m to €60.1m with operating expenses dropping from €8.9m to €7.9m.