Lowry firm’s profits up 13%

THE refrigeration company owned by former Fine Gael minister Michael Lowry, Garuda, saw pre-tax profits increase 13% to €515,871 last year.

According to accounts just filed for the firm the directors have “no plans which would significantly alter the activities of the company”. The principal risk facing the company is the current economic downturn, according to the accounts.

The company is involved in the installation and maintenance of refrigeration equipment.