Tuesday 25 July 2017

Longford brothers Mike (52), Pat (55) and Billy (57) Glennon are the biggest private timber providers in the country and Scotland. The sawmill business was founded in 1913.

The sheer growth scale of the business can be seen by the fact that the volume of timber used to run the mill for a day in 1945 would now be processed by its Fermoy sawmill in less than five minutes.

Their fortune has risen sharply on the back of an improving economy and rising construction activity. Profits jumped 35pc to €9.2m, with revenues rising to €124m. Business is booming and there's also €22m in cash sitting on the balance sheet. There are €64m in net assets.

The brothers splashed out more than €1m on Carriglas Manor, which developers had planned to turn into a €160m luxury resort before the downturn hit.

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