A car dealership that owns franchises in Cork and Tipperary for BMW and six other marques made annual pre-tax profits of more than €2.62 million, according to its most recent accounts.
Figures filed for the Kevin O'Leary Motor Group show that the pre-tax profit in the year to the end of April 2004 grew by almost €445,000 on the previous 12 months. However, total dividends from four of the companies in the group fell to €91,342 from €128,902.
Controlled by businessman Kevin O'Leary and his family, the group owns franchises for Opel, Nissan, Honda and Seat. It also owns franchises for the BMW-owned Mini marque and for BMW motorcycles.
With annual sales of more than €75 million, the group employs 180 at outlets in Cork, Bandon, Douglas and Clonmel.
The biggest profits were at the company that manages the business in Bandon, where the group has two outlets selling the Opel and Honda marques.
Kevin O'Leary (Bandon) Ltd reported sales of €24.84 million in the year, up from €23.91 million, and had pre-tax profits of €947,246 in the year, up €30,046 on the previous period.
Accounts for BMW outlet Kevin O'Leary (Silversprings) Ltd in Cork did not include turnover, but pre-tax profits rose to €713,457 from €566,864. Pre-tax profits at Opel outlet Kevin O'Leary (Clonmel) Ltd rose to €556,578 from €407,071.
It is unclear what accounts reflect business at the group's Seat outlet in Douglas. However, pre-tax profits for a separate entity, Kevin O'Leary (Cork) Ltd, rose to €401,071 from €282,348.
The profit and loss account for contract leasing business Hi-Line Leasing Ltd rose to €2.74 million at the end of April 2004 from €2.68 million.
