Sunday 18 August 2019

Combined losses at Ryan heiress's luxury lifestyle brand group climb by €1m in 2015

Danielle Ryan
Danielle Ryan

Gordon Deegan

Firms in the roads luxury lifestyle brand group owned by entrepreneur and Ryan dynasty heiress, Danielle Ryan, recorded combined losses of more than €1m last year.

That is according to new accounts filed by Ms Ryan's firms showing that the losses were sustained at the companies as they continued in their startup phase when losses are usually anticipated.

Ms Ryan and her husband, lawyer Richard Bourke, have already ploughed €2.37m into the ventures, which were only established in 2013.

Chief executive of ROADS Ms Ryan is the grand-daughter of Ryanair's founder Tony Ryan and inherited a good slice of a €250m fortune at the age of 26.

The ROADS firms specialise in fragrance, entertainment, publishing and property development.

The accounts filed by parent firm, Ms Ryan's Portico Capital Management Ltd, show that ROADS Fragrance Ltd incurred losses of €292,768 last year and this followed the firm recording losses of €517,785 in 2014.

ROADS Publishing Ltd recorded losses of €484,162 in 2015 and this followed the company incurring losses of €159,695 in 2014.

ROADS Entertainment Ltd recorded losses of €140,703 in 2015 and this followed losses of €140,410 in 2014. Losses at the ROADS Luxury Group totalled €113,648 last year.

The combined losses from the four ROADS subsidiaries in 2015 amount to €1m.

The combined shareholder deficit at the four firms amounts to €3m at the end of December last.

This combined deficit includes a shareholders' deficit of €1.5m at ROADS Fragrance Ltd and a deficit of €870,589 at ROADS Publishing Ltd.

Irish Independent

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