Harcourt sees profits more than double
OPERATING profits at the Dublin-based property group behind the iconic €100 million Titanic Quarter development in Belfast, last year more than doubled to €25.9m, writes Gordon Deegan.
New accounts just filed by Harcourt Developments show a 115pc jump in operating profits despite a 19pc fall in sales to €106.5m last year.
Interest payments totalling €23.2m and €2.36m written off in investments resulted in the group recording a pre-tax profit of €380,738. That followed a pre-tax loss of €14m in 2011.
Led by Donegalman Pat Doherty, one of Harcourt Developments' directors is Andrew Parker Bowles, former husband of Camilla, Duchess of Cornwall, and wife of Prince Charles.