Business Irish

Wednesday 20 November 2019

Profits dip at Lowry's refrigeration firm

Gordon Deegan

Michael Lowry's refrigeration business sustained a slight dip in accumulated profits last year but the Independent TD said he was happy with his company's performance.

Abridged accounts lodged by Mr Lowry's Garuda Ltd at the Companies Office show that the company's accumulated profits slid slightly by €71,000 to €1.01m last year.

Cash at Mr Lowry's firm last year decreased to €319,163 from €550,535 the previous year.

Garuda trades under the name Streamline Enterprises.

The accounts do not provide a turnover figure or state whether the company recorded a profit or a loss last year.

Mr Lowry was not contactable yesterday, but in a recent interview he said that he was "happy with how the company is performing".

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