ACQUATIC CENTRE: The Tralee Aquadome posted pre-tax profits of €71,151 (£56,036) in the year to May 2001, according to the latest filings at the Companies Office.
The company, which was cited by the Government in the selection of Dublin Waterworld to operate the National Aquatic Centre at Abbotstown, had pre-tax profits of €70,770 in the 12 months to April 30th, 2000. Pre-tax profits in the previous year were €29,989.
The company's chief executive, Mr Kieran Ruttledge, was one of two figures based in Co Kerry who were named in the bid by a dormant London-registered shelf company, Waterworld UK, to operate the Abbotstown centre.
Heads of agreement were signed by Waterworld UK after its consortium won the tender, even though it took only a 5.1 per cent interest in Dublin Waterworld.
Mr Ruttledge is not a shareholder in Tralee Waterworld, the company that runs the Aquadome. He holds about 15 per cent of Dublin Waterworld.
A further 10 per cent of Dublin Waterworld is held by Mr Liam Bohan, a former international swimmer and manager of Tralee Regional Sports Complex.
The majority shareholding - of about 60 per cent - is held by Mr John Moriarty, who is chief executive of Dublin Waterworld.
A property developer and director of Moriarty Civil Engineering Ltd, Mr Moriarty said in a statement this week that Mr Ruttledge and Mr Bohan were "the only two people named in relation to the operating company" at the bid stage.
The Government is investing more than €62 million in the National Aquatic Centre, which will be one of the largest water parks in the world when up and running next year.
The project is very large and informed figures believe that the operator awarded the 30-year contract to run the park stands to make annual profits of about €1.91 million.
The Government was advised in 2000 that it was "considered essential" that the management team of the aquatic centre should have "significant experience and a proven track record of managing aquatic centres of similar scale internationally".
According to the latest Companies Office filing, Tralee Waterworld's revenues from continuing operations in the year to May 2001 were €1.29 million. This contrasts with Dublin Waterworld's projected annual operating profits of €1.91 million.
Figures close to the Tralee Aquadome are believed to have paid in excess of €1.27 million for Tralee dockyard late last year. Prior to the sale, the dockyard was put up for auction by a local auctioneer and withdrawn.
In a statement last night, Dublin Waterworld said: "The consortium's declared intention was that the National Aquatic Centre would be run by a purpose-made Irish company utilising the skills of Irish-based managers."
The company said "the structure and shareholding reflected the internal agreements between the involved parties".
All aspects of the bid were discussed in "great detail" with the awarding authority, Campus and Stadium Ireland Development. It cited the involvement of a water-ride maker, NBGS International Inc, in the Waterworld UK bid.
That company was not mentioned when the Government signed the final contract in January.
