Danny Healy Rae's plant-hire business sees profits rise by 85%

The plant-hire company owned by independent Kerry TD, Danny Healy Rae last year recorded an 85% increase in post tax profits to €444,227.

New figures lodged by Healy Rae Plant Hire Ltd with the Companies Office show that the company enjoyed a bumper 2018. The company’s business was boosted last year through €196,514 won in contracts from Kerry County Council.

The post tax profits of €444,227 recorded by the company last year follow post tax profits of €239,060 in 2017. At the end of last year, the Kilgarvan based company was sitting on accumulated profits of €1.39 million.

In a buoyant year for the company, the firm’s cash pile increased by €205,921 from €391,125 to €597,046. The value of the company’s tangible assets also increased from €493,766 to €803,807.

The profit takes account of non-cash depreciation costs of €200,950. Danny Healy-Rae serves on the board with his wife, Eileen and son, Johnny who runs the day-to-day operations of the business.

Pay for directors last year reduced from €37,500 to €35,000. A note attached to the accounts states that €932,000 was payable for sub-contracting work to a wholly owned subsidiary of the company last year.

The accounts for Healy Rae Plant Hire Ltd states that Danny Healy Rae and Eileen Healy Rae control the company. Danny Healy-Rae was co-opted onto Kerry County Council in 2003 to fill his late father Jackie Healy-Rae’s seat and the 65-year-old was first elected to the Dáil in 2016.

The register of members’ interests at Dáil Eireann lists multiple occupations for Deputy Danny Healy Rae. Along with being a serving Dáil deputy, Deputy Healy Rae confirms other occupations as a publican; farmer; bus hire and plant hire.

In the register, Deputy Healy Rae confirms that he has shares in the Kerry Group plc and also owns land - 50 acres at Fussa, Kilgarvan; another 38 acres at Gullaba, Kilgarvan and another five acres at Gortnaboul, Kilgarvan.