Accumulated profits at the plant hire firm owned by well-known independent Co. Kerry TD and farmer, Michael Healy Rae, increased to €692,609 last year.
New accounts filed by Deputy Healy Rae’s Roughty Plant Hire Ltd. show that accumulated profits increased by €90,333 from €602,276 to €692,609 in the 12 months to the end of April last.
The post tax €90,333 profit for the 12 months compares to a post tax loss of €13,641 incurred during the prior 12 months, which coincided with the early phase of the Covid-19 pandemic.
The abridged accounts show that the firm received government grants of €101,602 during the year and this followed €38,993 received under the same heading in fiscal 2021.
The accounts don’t disclose the nature of the government grants, but separate figures published by the Revenue Commissioners show that the firm was in receipt of government Covid-19 wage supports in 2021 and the first quarter of 2022.
Four of the Healy Raes; Michael and his wife Eileen along with sons Ian and Kevin, sit on the board of the firm and aggregate pay to directors last year almost doubled from €47,681 to €87,582.
During the 12 months the company’s cash funds increased from €198,206 to €226,158. The book value of the firm’s tangible assets stood at €394,772.
The profit for the year takes account of non-cash depreciation costs of €66,854 and also takes account of a profit of €10,000 made on the disposal of an asset.
Meanwhile, the Kilgarvan-based business expanded during 2021 to 2022 as the numbers employed increased from six to nine.
The firm is just one of four where the deputy is listed as a director, with the most recently established in May of last year is property management firm, Roughty Properties Ltd.
According to Deputy Healy Rae’s list of interests, Roughty Properties Ltd. provides accommodation to Ukrainians in a guest house in Tralee, a contract which was estimated to be worth more than €160,000 last year, according to records from the Department of Integration.
The Kerry TD is self-described as a farmer, postmaster, service station owner and landlord. His entry on the Dáil register lists 16 separate properties for letting, including 12 houses, four of which have Killarney addresses and two of which are in Tralee.
Deputy Healy Rae also has 104 acres of farmland forestry and has shares in the New York Times Company.