Accumulated profits at Danny Healy-Rae‘s plant hire company rose to €4,783,788 last year, new accounts show, writes Sarah McGuinness.
New filings with the Companies Registration Office recorded the rise, even after the operating profits at Healy-Rae Plant Hire Ltd decreased from €1.12m in 2022 to just €5,160 last year.
The Independent Kerry TD stood down from the helm of the board this year, with his son Johnny Healy-Rae now the ‘ultimate controlling party’ of the firm, which is based in Kilgarvan, Co. Kerry.
The accumulated profits are up from €4,778,501 in 2022, and from €3,657,213 in 2021.
Healy-Rae Plant Hire specialises in civil engineering and haulage, and is involved in site clearing and road making.
The firm experienced a sharp depletion in cash reserves and the value of its asset portfolio last year.
Healy-Rae Plant Hire is a third-generation family business established by the late former TD Jackie Healy-Rae and his brother Dan in 1956. …