Wednesday 26 October 2016

Irvine's firm in the profit fast lane

Gordon Deegan

Published 16/02/2016 | 02:30

Eddie Irvine. Photo: Getty Images
Eddie Irvine. Photo: Getty Images

The logistics group co-owned by former Formula One driver Eddie Irvine enjoyed turbo-charged profits of £2.54m (€3.28m) last year.

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New figures lodged by Jenkins Shipping Group Ltd show that revenues rose from £18.43m to £21.68m in the 12 months to the end of April 30 last. Numbers employed at the Belfast-based group last year increased from 165 to 180.

Mr Irvine, inset, is also to enjoy a 30pc share of a dividend payout of £980,000 through his Tidswell Ltd having a 30pc ownership of the group.

Irvine, from Conlig near Bangor, raced for Jordan, Ferrari and Jaguar between 1993 and 2002. He took part in 148 races and scored 191 points with 26 podiums.

His most successful year - 1999 - produced four victories for Ferrari when he was runner-up in the championship.

According to the directors' report, "the group is budgeting an increase in sales in the coming year to include the maintenance of current margins as well as growth from new business".

The directors add "as a result, we are confident that our current level of financial performance will improve". Staff costs at the group increased from £4.28m to £4.85m. Emoluments received by directors increased to £274,108.

Irish Independent

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