Dividend reduction for Enfer Scientific owners

THE owners of Enfer Scientific, the BSE test maker, took a cut in their dividend payment after the company saw its profits fall in 2006.

The firm paid out a total dividend payment of €2.8 million, a reduction of €2.4m on the 2005 figure, recently filed accounts show. Enfer is owned by Louis Ronan and veterinary surgeon Michael O’Connor.

Mr Ronan will net €2.37m and Mr O’Connor will receive €419,840.

Pre-tax profits at Enfer slipped to €2.69m from €3.3m.

“The group turnover was reduced during the year and lower levels of profit were achieved,” the company said in note with the 2006 accounts.

Turnover in 2006 was €13.2m from €15.9m in 2005. No reason was given in the accounts for the decline in turnover.

Enfer employed 100 people at the 2006 year-end. It recently announced plans to double its workforce, following the opening of a manufacturing facility at the M7 Business Park in Naas, Co Kildare.

According to the account, Enfer’s directors received remuneration of €1.19m in 2006, down from €1.27m in 2005. This figure includes pension payments.

The company owed its directors €1.07m at the end of the 2006 financial year, up from €785,090 in 2005.