The State’s largest private ambulance service owned by mortgage advocate David Hall last year returned to profit.
New accounts show that Mr Hall’s Life Line Ambulance Service Ltd recorded a profit of €101,231 in the 12 months to the end of June last year.
This followed the firm recording a loss of €436,000 in the previous year.
The firm returned to profit after revenues increased from €4.1m to €4.3m.
Last month, Mr Hall stepped in as temporary chief executive of the Console charity as the organisation was ultimately wound up amid allegations of questionable spending.
According to a note attached to the new Life Line Ambulance Service Ltd’s accounts, the firm returned to profit after the company carried out changes after the losses recorded in 2014.
The note states that the directors believe the ongoing competitive practices, economic conditions and the reduction in the numbers taking out private health cover was having an effect on its business.
Mr Hall had stepped away from running the business on a day to day basis to concentrate on his work with the Irish Mortgage Holders’ Association.
However, he said yesterday: “I am very confident about the year ahead as I am back managing the business with fantastic staff.”
The company is expanding its ambulance fleet with Mr Hall confirming: “I’ve bought 10 new ambulances and ordered 10 more. We will be introducing new technology which will help. And I will be personally dealing with all clients.”
Mr Hall said he had had another profitable year in the latest fiscal year to the end of June, and that profits would be higher than 2015 levels.
Last month, a circuit court judge granted Life Line whistleblowers Mick Dougan and Seán Clarke an order compelling Life Line to continue paying them until their cases for unfair dismissal are heard by the Workplace Relations Commission.
The accounts show that Mr Hall and his wife Susan Wiseman Hall shared total pay last year of €209,966 — down on the €217,817 paid to the couple in 2014.
In addition, Mr Hall received €116,379 in rent from the firm last year. The firm employs 60 full-time staff and 40 part-timers.
The firm’s cashpile last year more than doubled to €493,659.
The accounts show that new finance facilities secured in 2016 allowed the firm to purchase the new ambulances.
Accumulated profits last year increased from €5,560 to €106,791.
© Irish Examiner Ltd. All rights reserved