Business Irish

Sunday 18 August 2019

Profits at MKN more than double to €7.5m

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John Mulligan

John Mulligan

MKN Properties, the construction group controlled by the McKeon family, saw its profit more than double to almost €7.5m in 2017, according to accounts just filed with the Companies Registration Office.

The accounts also show that turnover soared to almost €24m in 2017, from €13.3m the year before.

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MKN primarily develops properties in its north Dublin heartland. The company is headquartered in Clontarf.

At the end of 2017, its accounts noted that it had assets of €54m and liabilities of €8.6m.

The firm is 50pc-owned by Sean McKeon, who runs the business with his sons Brian and John.

In Killester, the company is planning to build 79 residential units on a 2.4-acre site.

In March this year, MKN acquired a site extending over almost one acre on the East Wall Road in Dublin. It was previously the site of the Canavan Ford and Seat showroom, which has relocated. The site had been offered for sale with a €6m price tag.

A study of the site by the seller had determined that it could accommodate 9,000 sq m of commercial space, along with 101 apartments.

The McKeons also co-own the Omni Park Shopping Centre in Santry, while MKN is building an office block on Pembroke Row in Dublin city centre.

Irish Independent

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