Pembroke directors share pay of €3.3m

Directors at Irish-based aircraft leasing firm Pembroke Capital last year shared a pay pot of $4.49 million (€3.3 million) or on average just under $900,000 each.

Accounts just filed with the Companies Office by Pembroke Capital Ltd and subsidiaries show that the group last year recorded a 39 per cent drop in pretax profits from $72.69 million to $44.1 million.

The figures show that the firm – with Irish offices in Dublin and Limerick – recorded the drop in pretax profits after revenues fell by 5 per cent from $262.3 million to $249.2 million in the 12 months to the end of December last.

A driver behind the drop in revenues was the company not selling any aircraft last year following the firm realising $12 million from the sale of aircraft in 2011.

The figures show that the company's business provided a bonanza for its 26 staff last year who shared $9.8 million in salaries – or an average $376,000 each. The company's five directors, including former chief executive Gary Burke, shared $4.65 million in remuneration that includes $160,000 in pension contributions.

In 2011, Mr Burke bought financier Derek Quinlan’s Derrymore home on Dublin’s Shrewsbury Road for a reputed €7 million.

Other directors listed are Kieran Corr, Raghunandan Menon, Peter Moylan and Dave Richards.