Profits decline at Michael Lowry’s Garuda Ltd

ACCUMULATED profits at Michael Lowry’s refrigeration business last year fell by almost €150,000, new figures show.

Abridged accounts just filed by Garuda Ltd to the Companies Office show that accumulated profits at the company dropped by €148,195 from €1.23 million to €1.08m in the 12 months to the end of December last.

Garuda, which trades under the name Streamline Enterprises, was established by Mr Lowry a year after he was first elected a Fine Gael TD in 1987.