Merc dealer’s profits power through €1m mark

PRE-TAX profits at Limerick Mercedes-Benz dealer Frank Hogan have powered through the €1 million mark.

The latest accounts for Frank Horgan Limited, filled with the Companies Registration Office, show that pre-tax profits for the 12 months to April, 2003 hit €1.05 million on pre-VAT sales of €22.2 million, compared to profits of €924,869 on sales of €21.1 million a year earlier.

The company's corporation tax bill fell to €176,733 in 2003 from €192,667 in 2002. The company has 52 employees with a wage bill of €1.2 million, up from €0.9 million in 2002.