Paddy McKillen’s managment company records profits of €10m

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Paddy McKillen’s managment company records profits of €10m via IrishTimesBiz

The Dublin-based management company owned by hotelier and property developer Paddy McKillen snr recorded pretax profits of €10.66 million in 2020.

The company provides corporate and property management services and accounts show that it received €4.23 million in fees from Coroin Ltd for services provided in 2020 to the London-based Maybourne luxury hotel group.Mr McKillen is currently in dispute with the Qatari owners of the Maybourne luxury group.

Earlier this year, the Maybourne group confirmed that it had not renewed its management contract with Mr McKillen’s management company. It recorded post tax profits of €9.4 million in 2020 after paying corporation tax of €1.254 million. Accumulated profits in 2019 had increased by €652,494 to €6.27 million. The company’s cash pile in 2020 decreased by €611,556 from €2.14 million to €1.53 million.

 

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