Pretax profits at one of the country’s largest privately owned property developers, Rohan Holdings, last year increased fivefold to €32.24 million.
The pretax profit of €32.24 million followed a profit of €5.97 million in 2021– an increase of 439 per cent.Kerry and C&C cushion weak updates by waving cash as Irish share buybacks near €4bnThe directors state that the profits were largely generated by the development and sale of industrial units, strong lettings across the group and refurbishment and sale of residential properties.The profit last year takes account of a €8.3 million non-cash write-down of the group’s investment properties.
The group’s developments include Grand Canal Plaza and Charlemont in D2 along with Dublin Airport Logistics Park, and the directors go on to add that the “strength of the balance sheet is reflected in the €154 million of property assets together with a significant land bank which has no attributable bank debt”.The bulk of the group’s revenues at €78.4 million were generated in Ireland.
The group recorded an operating profit of €32.82 million and net interest payments of €595,625 reduced the profits to a pretax profit of €32.24 million.
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Source: IrishMirror - 🏆 4. / 98 Read more »
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