Monday 20 November 2017

Off-pitch success for GAA boss as firm nets millions

Gordon Deegan

Dublin'S All-Ireland winning football manager, Pat Gilroy enjoyed success off the pitch last year too, with new figures showing that the services firm he leads more than doubled its pre-tax profits to €4.9m in 2011.

Mr Gilroy (40) -- who led Dublin to win Sam Maguire last September -- is managing director of Dalkia, which employs 441 people, and new figures show that the firm increased its pre-tax profits by 168pc from €1.85m to €4.97m.

The French-owned firm enjoyed the sharp increase in pre-tax profits in spite of revenues marginally dipping last year from €74.9m to €74.2m, according to accounts just filed with the Companies Office.

The principal activities of Dalkia Ireland plc are the provision of managed energy, utilities services, operating of combined heat and power plants and lighting installation and maintenance in public areas.

According to the directors' report, "the directors are pleased with the performance of the group for the year under review".

Four other directors served along with Mr Gilroy during the year and the figures show that directors' remuneration, including pension payments, totalled €290,455 last year -- down 31pc on the aggregate remuneration of €422,148 received in 2010.

Mr Gilroy -- who also won an All-Ireland winner's medal with Dublin as a player in 1995 -- was appointed as Dublin manager in 2009 and remains in place this year to help his team defend their title.

The figures show that Dalkia had accumulated profits of €22.3m last year. Total shareholder funds of €32.9m included cash of €16.6m.

They also show that staff costs last year increased by 10pc from €21m to €23m with 60 employed in management, 46 in administration, 331 in operations and four in sales and marketing. The numbers employed last year declined from 464 to 441.

The accounts confirm that a dividend of €1.5m was paid during the year to immediate parent, Dalkia International SA.

The directors' report states that "the group will also actively review and pursue strategic investment opportunities that will complement the existing service-offering to its multiple sector client base".

Boost

The figures show that operating profits at the firm increased by 375pc from €896,671 to €4.25m. The firm also received net finance income of €713,985 boosting profits to €4.9m.

The chief factors behind the increase in profits was a drop in cost of sales and operating expenses.

The figures show that cost of sales declined from €63.8m to €61.1m with operating expenses dropping from €10.3m to €8.9m.

Dalkia Ireland yesterday declined to comment.

Irish Independent

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