High director pay levels keep Eddie Hobbs firm in the red
Newly-filed accounts for Hobbs Financial Practice (HFP) show that the company’s losses widened from €48,176 to €69,876. The firm — formerly known as Financial Development and Marketing (FDM) — counts Mr Hobbs and his wife, Mary, as directors. The two shared a pay pot of €589,847 in 2016. That was a slight decline, from €599,266 in 2015. In 2014, the pair paid themselves €559,068 and, in 2013, they shared pay of €652,144.
The loss for 2016 was a consequence of the directors’ decision to give themselves a high level of remuneration — lower pay for the directors would have brought the company into profit. The accounts show that the company is trading to expectations, despite the loss for the year and despite accumulated profits falling 29% to €167,324.
