décembre 10, 2022

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Record profits for Danny Healy Ray’s factory leasing company

Factory leasing and civil engineering company owned by Independent Kerry TD and farmer Danny Healy-Rae had a record year in 2020 with after-tax profit of €743,244.

Figures provided by Healy-Rae Plant Hire Ltd with the corporate office show the company had a bumper year despite the disruption to its business program due to the Covid-19 pandemic.

A note attached to the accounts states that the company “experienced a decrease in its activities in the first half of 2020 due to restrictions imposed by the government.”

The note adds: « In response to the restrictions, the company has benefited from government support provided to businesses during this time. »

The profit of €734,244 for the year 2020 represents a 67% increase over the profit of €444,714 for the year 2019.

At the end of last December, the company was raking in a cumulative profit of 2.58 million euros.

The company’s cash increased last year from 630,824 euros to 2.022 million euros.

In recent years, the company has recorded good profits. The company generated a profit after tax of €444,227 in 2018 and a profit after tax of €239,060 in 2017.

Figures released by Kerry County Council earlier this year show that last year Healy-Rae Plant Hire Ltd received €341,347 (including VAT) from the council for leasing factories out of a total spending of €4.6 million by the council. On the rental of the factory and transportation services.

The value of the company’s tangible assets also increased marginally from 1.29 million euros to 1.31 million euros.

Danny Healy Ray serves on the board of directors with his wife, Mary, and their son, Johnny, who runs the company’s day-to-day operations.

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The note regarding the impact of Covid-19 also states that “managers will continue to adjust company plans in line with government advice and directors believe that the company is in a good position to return to full commercial capacity once this period of uncertainty has passed.”

Danny Healy-Ray was selected to Kerry County Council in 2003 to fill the seat of his late father Jackie Healy-Ray, and the 67-year-old was first elected to Kerry County Council in 2016.

Dáil Eireann’s Member Interest History lists multiple jobs for Danny Healy Rae TD.

Besides being Dáil’s deputy, Mr. Healy Rae emphasizes other functions such as: publican; farms; Bus rental and factory rental.

On record, Mr. Hailey Ray asserts that he has shares in Kerry Group plc. He also owns 50 acres of farmland in Fossa, Kilgarvan; Another 38 acres of farmland is in Jalapa, Kilgarvan, and another three acres of farmland are in Gornapol, Kilgarvan.

The record confirms that Healy Rae has entered into contracts with Kerry County Council and the Irish Water and Bus Eireann.