Property tycoon Liam Carroll, owner of a big stake in food group Greencore, has declared annual profits totalling €28.2 million from the operations of dozens of subsidiaries in his main holding company.
In a new filing at the Companies' Office, Mr Carroll's vehicle, Zelderbridge, also revealed that the net assets of its 66 operating companies stood at €779.19 million at the end of 2005.
A dominant figure for many years on the property scene through Zoe Developments, Mr Carroll marched into Greencore last July when he bought up Dermot Desmond's 21.57 per cent stake at a cost of €170 million.
Though widely expected to mount a full bid for the food group, which has significant property holdings in Carlow and London, he has yet to show his hand. However, his stake is already large enough to block any rival bidder from compulsorily acquiring his shares.
Though this company itself does not trade, the accounts indicate that some of its largest units are expanding rapidly.
The biggest of these - an investment vehicle, called Andinka, that makes loans to group companies - saw its net assets grow to €455.98 million at the end of 2005 from €299.92 million at the start of the year.
Andinka's bankers include branches of Morgan Stanley Dean Witter in New York and London, as well as Barclay's Bank Ireland and Ulster Bank, which is believed to have funded Mr Carroll's purchase of Mr Desmond's Greencore shares.
Zelderbridge also holds the Dunloe Ewart companies Mr Carroll bought after prevailing in a contentious takeover battle with the businessman Noel Smyth.
