Bill Cullen’s firm returns to profit

THE main company owned by motor dealer and star of TV3’s The Apprentice, Bill Cullen returned to profit last year after incurring a pre-tax loss of €10.4 million in 2009.

Accounts just filed by Glencullen Holdings Ltd to the Companies Office show that the group incurred the loss after revenues more than halved in 2009 going from €53.7m to €26.3m.

The group operates a number of Renault dealerships across the country and the filings confirm that an impairment charge of €6m on the group’s property assets contributed to the pre-tax loss of €10.4m. The loss in 2009 followed the group recording a pre-tax loss of €8.2m in 2008.