Kevin Moran scores with clinic profits
Published 21/09/2015 | 02:30
Pre-tax profits at the sports injury clinic co-owned by former Manchester United, Ireland and Dublin legend Kevin Moran increased by 27pc to €4.32m last year.
Accounts filed by the Santry-based Sports Surgery Clinic Ltd show that the business enjoyed the profit boost after revenues increased by 10pc to €31.79m in the 12 months to the end of December.
According to the directors, the facility is Ireland's only fully dedicated sports surgery clinic and offers Europe's most up-to-date treatment of sports and orthopaedic injuries.
Kevin Moran has a share in the firm along with brother Ray Moran, who also works there as a consultant orthopaedic surgeon.
The number employed at the clinic has increased from 183 to 220, with staff costs increasing from €8.78m to €9.64m.
A breakdown shows 185 are employed in medical and para-medical services and 35 in management, administration and other services. Accumulated profits at year end were €2.73m.
A note attached to the accounts states that "the company has generated a profit for two consecutive years, 2013 and 2014, and has met all of its banking convenience and repayment commitments for the year. That trend has continued into the current year". The business's loan balance at the end of December last stood at €8.1m and is repayable over the period to December 2017.
Directors' remuneration last year declined marginally to €140,416.
Retaining key staff, access to appropriate financing, the retention of certification from health insurers, and the overall health of the economy were cited as the main potential risks to the business.