Business Irish

Tuesday 18 June 2019

Top-class profits of €3.3m at Griffith College

Pre-tax profits at the firm that operates Griffith College increased by 27pc to €3.38m last year. (stock photo)
Pre-tax profits at the firm that operates Griffith College increased by 27pc to €3.38m last year. (stock photo)

Gordon Deegan

Pre-tax profits at the firm that operates Griffith College increased by 27pc to €3.38m last year.

Established in 1974, the independently owned Griffith College operates two third-level campuses in Dublin and one each in Cork and Limerick. Accounts lodged with the Companies Office by Bellerophon Ltd, trading as Griffith College, show that revenues increased by 8pc from €23m to €24.9m in the 12 months to the end of June last.

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The company paid out interim dividends of €237,193 last year and dividend pay-out of €197,104 in 2017.

Numbers employed last year increased from 425 to 447 as staff costs remained static at €13.7m. At the end of June 30 last year, the group had shareholder funds totalling €17.99m.

The firm's cash more than doubled from €3.9m to €8.2m.

The firm recorded an 29pc jump in operating profits in 2018 from €2.86m to €3.47m. Net interest payments of €86,000 reduced the group's profits to €3.38m.

The board of directors consists of founder and presiden, Prof Diarmuid Hegarty, Reginald Callanan, Tomás Mac Eochagáin, Frank Scott Lennon, Ronan Fenelon, Daniel Hegarty and Patrick Sheehan.

Pay for directors last year fell by 4pc from €986,430 to €947,094 made up of emoluments of €561,171 and €385,923 in pension contributions.

Irish Independent

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