Friday 20 July 2018

O'Flaherty Holdings is one of the country's largest family businesses and booming car sales have seen them make large profits in recent years. The company, which sells VW, Mercedes, Audi, Skoda, Porsche and Mazdas, dates back to 1949, when the late Stephen O'Flaherty inked a deal to make Volkswagen Beetles in Ireland - the first to be put together outside Germany.

In 2016, sales were up by €110m, to €460m on the back of a boom in car sales, which have been boosted in recent times by PCP finance schemes, though sales slowed last year. Over €170m has been paid out in dividends since 2009. Shares are held by daughters Lauren and Nicola, son of the late Nigel who passed away in 2016, as well as by Guernsey-based Michael (86) and Stephen O'Flaherty (56) who lives in a Georgian house set in eight acres in Howth. The late Nigel, who was 79, left €60m in his will, as well as two Dublin properties. The family also have business interests in manufacturing, construction and plant hire in the US.

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