The equipment hire company, controlled by Minister of State for Agriculture Michael Healy Rae, saw its accumulated profits rise to €808,911 last year.
Fresh accounts from County Kerry-based Roughty Plant Hire Ltd, owned by Minister Healy Rae, show accumulated profits increased by €74,887, rising from €734,024 to €808,911 in the 12 months to the end of April last year.
Profit after tax of €74,887 from the equipment rental business for the 12 months was up 80% on the previous profit after tax of €41,415 for the same period.
The company's board of directors consists of four people: Michael Healy Rae, his wife Eileen and their sons Ian and Kevin, while the directors' total salary last year fell from €70,885 to €66,783.
In 12 months, the company's cash flow more than doubled: from €198,748 to €434,224.
The book value of the company's tangible assets amounted to EUR 473,682.
The number of workers in Kilgarvan has fallen from 12 to five in a year.
Accounts signed by Michael and Eileen Healy Ray on 17 January show that profit for the year includes non-cash depreciation charges of €84,204.
Separate accounts from another of Healy Ray's companies, which runs a petrol station and convenience store in Kilgarvan, show it made a loss after tax of €26,986 last year.
New data from Black Cap & Company Ltd shows the company recorded a loss after tax of €26,986 for the 12 months to the end of April 2024, significantly lower than the loss after tax of €67,583 a year earlier.
Last year, the company's headcount was reduced by one person to 15, including directors.
Minister Healy Rae also sits on the board of Black Cap & Company Ltd, along with his wife Eileen, who is the firm's majority shareholder. The combined salary for the two last year was €49,132, including a €4,400 pension contribution.
At the end of April 2024, the company owed MP Healy Rae €148,931.
The company is based in a building that houses a shop in the village of Kilgarvan and records show that the building is owned by Minister Healy Rae. Last year the company paid Minister Healy Rae €8,000 in rent.
The loss for the previous year includes cumulative non-cash depreciation and amortisation expenses of EUR 34,476.
The loss for 2024 brought the company's loss to €35,815 at the end of April.
The company's cash balance decreased from EUR 46,541 to EUR 36,437.
The book value of the company's tangible assets decreased from EUR 94,723 to EUR 69,429.
Separately, procurement data released by the Department for Children, Equalities, Disability, Inclusion and Youth shows that a guest house in County Kerry run by Roughty Properties Ltd, owned by MP Michael Healy Rae, was paid €1.22m over two years and three months to house Ukrainian refugees.
Sourse: breakingnews.ie
