Record profits for Danny Healy Rae’s plant hire company

Danny Healy-Rae's plant hire firm enjoyed a bumper year despite Covid-19. Picture: Dan Linehan

The plant-hire and civil engineering company owned by Independent Kerry TD and farmer, Danny Healy-Rae had a record year in 2020 by achieving post-tax profits of €743,244.

Figures lodged by Healy-Rae Plant Hire Ltd with the Companies Office show that the company had the bumper year in spite of the disruption to its work programme by the Covid-19 pandemic.

A note attached to the accounts states that the company “experienced a decrease in its activities in the first half of 2020 due to the restrictions imposed by the Government”.

The note adds: “In response to the restrictions, the company availed of government supports provided to businesses during this time.” 

The profit of €734,244 for 2020 is a 67% increase on the €444,714 profits for 2019.

At the end of December last, the company was sitting on accumulated profits of €2.58m.

The company’s cashpile last year increased from €630,824 to €2.022m.

In recent years the business has recorded healthy profits. The firm had post-tax profits of €444,227 in 2018 and post-tax profits of €239,060 in 2017.

Figures released by Kerry County Council earlier this year show that Healy-Rae Plant Hire Ltd last year received €341,347 (incl Vat) from the council for plant-hire work out of a total spend of €4.6m by the council on plant hire and haulage services.

The value of the company’s tangible assets also increased marginally from €1.29m to €1.31m.

Danny Healy-Rae serves on the board with his wife, Mary and their son, Johnny who runs the day-to-day operations of the business.

The note on the Covid-19 impact further states that “the directors will continue to modify the company’s plans in line with government advice and the directors believe that the company is well-positioned to return to full trading capacity once this period of uncertainty passes”.

Danny Healy-Rae was co-opted onto Kerry County Council in 2003 to fill his late father Jackie Healy-Rae’s seat and the 67-year-old was first elected to the Dáil in 2016.

The register of members’ interests at Dáil Eireann lists multiple occupations for Danny Healy Rae TD.

Along with being a serving Dáil deputy, Mr Healy Rae confirms other occupations as: publican; farmer; bus hire and plant hire.

In the register, Mr Healy Rae confirms that he has shares in the Kerry Group plc. He also owns 50 acres of farmland at Fossa, Kilgarvan; another 38 acres of farmland at Gullaba, Kilgarvan, and another three acres of farmland at Gortnaboul, Kilgarvan.

The register confirms that the Healy Rae company has contracts with Kerry County Council, Irish Water and Bus Eireann.