Accumulated profits at the plant hire firm owned by IndependentKerry TD Michael Healy-Rae last year increased to €692,609.
Accounts filed by Mr Healy-Rae’s Roughty Plant Hire Ltd show accumulated profits increased by €90,333 from €602,276 to €692,609 in the 12 months to the end of April last.
The post-tax profit of €90,333 for the 12 months compares a post-tax loss of €13,641 incurred during the previous 12 months, which coincided with the early phase of the Covid-19 pandemic.
The abridged accounts show that the firm received Government grants of €101,602 during the year and this followed €38,993 received under the same heading in fiscal 2021.
The accounts did not disclose the nature of the Government grants but separate figures published by the Revenue Commissioners show that the firm was in receipt of Government Covid-19 wage supports in 2021 and the first quarter of 2022.
Four Healy-Raes – Michael and his wife, Eileen, and sons, Ian and Kevin – sit on the board of the firm. Aggregate pay to directors last year almost doubled from €47,681 to €87,582.
The company’s cash funds increased from €198,206 to €226,158. The book value of the firm’s tangible assets stood at €394,772.
The Kilgarvan based business expanded during 2021-2022 as the numbers employed increased from six to nine.
The profit for the year takes account of non-cash depreciation costs of €66,854 and also takes account of a profit of €10,000 made on the disposal of an asset.
The firm is just one of four where Mr Healy-Rae is listed as a director and the most recently established, in May of last year, is property management firm, Roughty Properties Ltd.
Mr Healy Rae has various interests and in his Dáil register of interests, he describes himself as a postmaster, farmer, service station owner and politician, in addition to his business interest in plant hire.
He also describes himself as an owner of rental properties and his entry on the Dáil register lists 16 separate properties for letting including 12 houses.
Four of the houses have Killarney addresses and two are in Tralee. Mr Healy Rae also has 104 acres of farmland forestry. He has shares in the New York Times Company.
Mr Healy-Rae’s list of interests also include Roughty Properties Ltd providing accommodation to Ukrainians in a guest house in Tralee. The contract was estimated to be worth more than €160,000 last year, Department of Integration records show.
