Dermot Bannon company breaks even after he and wife hand themselves three-fold pay increase

Dermot Bannon

By Gordon Deegan

The architectural firm owned by the country’s best-known architect, TV's Dermot Bannon broke even last year after the Bannons enjoyed an almost three-fold pay increase.

New accounts show that Dermot Bannon Architects Ltd last year broke even after recording a profit of €26,274 in 2016.

However, the company broke even only after its pay, including pension payments to directors, Dermot Bannon and his wife, Louise increased from €74,325 to €213,584.

The remuneration to the Bannons was made up of €176,660 in pay and pension contributions of €36,924.

Pay to the two in 2016 totalled €65,004 along with pension payments of €9,321.

Bannon’s ‘Room to Improve’ show is one of the top-rated shows on RTE and the most recent series of 'Room to Improve' screened earlier this year was the most successful to date with 722,000 viewers tuning in to see the episode featuring Daniel and Majella O’Donnell.

Mr Bannon’s Dublin based practice employs eight staff including two in management.

The new accounts for the firm show that its staff costs, that includes directors’ pay, last year increased from €329,114 to €503,558.

During the year, the company’s cash pile increased more than three-fold going from €42,593 to €129,703.

The break-even result last year resulted in the company’s accumulated profit of €19,941 remaining static.

Established in 2008, Dermot Bannon Architects is an architectural firm based on the Seafront in Clontarf.

According to the company’s website, Dermot Bannon Architects was founded by Mr Bannon and Ian Hurley “on the belief that good design responds to its surrounding environment and resonates with the soul of a site in order to enhance the daily lives of its inhabitants”

It adds: “Their goal is to guide clients toward a full realization of their vision by helping them visualise and realise the greatest potential for their space.

The aim is to integrate fun into function, to generate opportunities from site constraints, and to produce designs that are consistently bright and inspiring.

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