Healy-Rae's hire firm enjoys bumper year with €175,000 profit

A plant-hire company owned by Kerry politician Michael Healy-Rae made a profit of almost €175,000 in 2019 during a bumper year for the business, according to newly filed accounts.

Roughty Plant Hire Limited had recorded a modest profit of just €5,352 in 2018, but this surged to €174,657 in the 12 months to the end of April 2019.

It almost doubled its number of employees to 13 during the same period.

The upturn in fortunes for the firm, which has carried out work for both the HSE and Kerry County Council in the past, left it with accumulated profits of €604,767 and a cash pile of €201,496.

Independent TD Mr Healy-Rae (53) owns a 99pc stake in the company, while his wife Eileen (57) holds the remaining share.

Both are directors of the firm, along with their son Ian Healy-Rae (34).

The accounts show total remuneration paid to directors in the last financial year increased by almost €20,000 to €68,187.

The boon in the plant-hire trade in Kilgarvan also led to a large increase in profits at Healy-Rae Plant Hire Limited, which is owned by Michael Healy-Rae's brother and fellow independent TD, Danny.

His company reported an 85pc increase in annual profits to €444,227 in its most recent accounts for the year ending December 31, 2018. It had accumulated profits of nearly €1.4m, and a cash pile of almost €600,000.

Roughty Plant Hire Ltd had tangible assets valued at €386,763 at the end of its financial year, and was owed €182,866 by debtors. Some €46,095 remained payable to creditors, compared to €120,059 during the previous year.

In addition to his role in the plant-hire business and his job as a Dáil deputy, Mr Healy-Rae is also a postmaster, farmer and shop owner, according to his declaration of interests under the Ethics in Public Office Acts.

He also owns a diverse property portfolio that includes student accommodation, farmland, forestry, as well as houses and apartments for letting.

He included his directorship of Roughty Plant Hire Ltd in his original declaration of interests, and submitted an amendment to his declaration earlier this month to include his directorship of Black Cap & Company Ltd - a grocery shop and petrol station ­business.

Mr Healy-Rae is the youngest son of former Kerry South TD Jackie Healy-Rae, who was a TD from 1997 until 2011. He succeeded his father as a TD in 2011, and was joined in the Dáil by his brother Danny in 2016.