Business Irish

Friday 15 November 2019

JLL bosses share €5.42m payday as profits increase

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Gordon Deegan

Bosses at Dublin-based commercial and residential property firm, Jones Lang Lasalle (JLL) last year enjoyed a pay bonanza as 13 directors shared €5.42m - an average of €417,143 each.

New accounts filed by Jones Lang Lasalle Ltd show the 13-member board shared the payday as the company's pre-tax profits increased by 16pc to €5.37m last year. This followed a 15pc increase in revenues to €23.75m.

According to the directors' report "during the year turnover and net profit increased by 15.28pc and 34.14pc respectively".

The directors said that the business has continued to trade profitably and they "are confident about the future prospects for the business."

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The workforce at the firm increased by six to 98 last year with staff costs, including directors' pay, increasing from €11.84m to €13.49m.

The aggregate pay to directors last year increased by €637,000 from €4.78m to €5.42m.

The directors who served during the year are listed as Stephen Murray, Nigel Healy, Desmond Lennon, Margaret Fleming, John Moran, Pauline Daly, Fionnuala O'Buachalla, Deirdre Costello, Michael Miland, Max Reilly, Andrew McCracken, Conor O'Gallagher and Lisa McGrane who resigned from the board in May of last year.

The profit takes account of lease payments of €534,000 and non-cash depreciation costs of €337,000.

The firm's balance sheet strengthened last year with accumulated profits increasing to €54.44m from €50.7m. JLL's financial assets remained static at €18.2m while its total administrative expenses last year increased to €18.67m from €16.24m.

Irish Independent

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