The Gowan Group made a pretax profit of €46 million in 2005, according to accounts just filed. The profit figure is a large increase over the €17.9 million in pretax profits made a year earlier. The increase is in part accounted for by property sales that netted more than €21 million for the group.

The group is involved in the distribution of Peugeot and Citröen cars, the distribution of domestic appliances, kitchen fittings, consumer electronics and industrial tools. The group is also active in property and the equity markets.

Turnover for the group in 2005 was €345.5 million, up from €273.8 million the previous year. The balance in the profit and loss account at year's end was €161.9 million. During 2005 the group employed an average of 309 people, at a cost of €18.4 million.

The number of staff employed in 2004 was 295 and the cost €15.4 million. Remuneration to group directors was €862,000.