Healy Rae company records profits of €444,227
The plant-hire company owned by outspoken independent Kerry TD and farmer, Danny Healy Rae last year recorded an 85% increase in post tax profits to €444,227.
New figures lodged by Healy Rae Plant Hire Ltd with the Companies Office show that the company enjoyed a bumper 2018.
The company’s business was boosted last year through €196,514 won in contracts from Kerry County Council.
The post tax profits of €444,227 recorded by the company last year follow post tax profits of €239,060 in 2017.
At the end of last year, the Kilgarvan based company was sitting on accumulated profits of €1.39 million.
In a buoyant year for the company, the firm’s cash pile increased by €205,921 from €391,125 to €597,046.
The value of the company’s tangible assets also increased sharply from €493,766 to €803,807.
The profit takes account of non-cash depreciation costs of €200,950.
Danny Healy-Rae serves on the board with his wife, Eileen and son, Johnny who runs the day-to-day operations of the business.
Pay for directors last year reduced from €37,500 to €35,000.
A note attached to the accounts states that €932,000 was payable for sub-contracting work to a wholly owned subsidiary of the company last year.
The accounts for Healy Rae Plant Hire Ltd states that Danny Healy Rae and Eileen Healy Rae control the company.
Danny Healy-Rae was co-opted onto Kerry County Council in 2003 to fill his late father Jackie Healy-Rae’s seat and the 65 year old was first elected to the Dáil in 2016.
The register of members’ interests at Dáil Eireann lists multiple occupations for Deputy Danny Healy Rae.
Along with being a serving Dáil deputy, Deputy Healy Rae confirms other occupations as a publican; farmer; bus hire and plant hire.
In the register, Deputy Healy Rae confirms that he has shares in the Kerry Group plc and also owns land - 50 acres at Fussa, Kilgarvan; another 38 acres at Gullaba, Kilgarvan and another five acres at Gortnaboul, Kilgarvan.
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