Eddie Irvine firm sees profit race 57% ahead

The logistics group part- owned by former Formula One racing driver Eddie Irvine last year enjoyed turbo-charged pre-tax profits, which shot up by 57% to £580,025 (€698,226).

New figures show that Jenkins Shipping Group Ltd saw its revenues rise by 4% to £16.1m in the 12 months to the end of April last.

The company’s shareholders, including Mr Irvine, shared a dividend of £236,000 during the year.

According to the directors’ report for the Belfast- based Jenkins Shipping: “The group is budgeting an increase in sales in the coming year to include the maintenance of current margins as well as growth from new business which has already been secured and will commence from September 2013.

“As a result, we are confident that our current level of financial performance will improve.”

The numbers employed by the group — which provides cargo handling services — decreased from 173 to 168 with staff costs declining from £3.59m to £3.46m.

Emoluments received by directors, including pension contributions, last year decreased £263,934 to £247,353.

Further figures show that a second company Eddie Irvine is involved in, Chrishardzoe Developments — which is engaged in property development — saw a marginal decrease in its accumulated profits from £646,906 to £613,891 in the 12 months to the end of October 2012.

Last year, it was reported that 48-year old Irvine recorded a profit of more than $5m (€3.7m) when he sold on a luxury five bedroom villa in Miami that he had purchased for $1.95m.

The former F1 driver — from Conlig near Bangor — raced for Jordan, Ferrari and Jaguar between 1993 and 2002.

During this time, Mr Irvine raced in 148 races and scored 191 points with 26 podium finishes.

His most successful year produced his four victories for Ferrari in 1999 when he was runner-up in the drivers’ world championship.

Last month, he hit the headlines after he was sentenced to six months in jail in Italy for a nightclub fight over a woman, though he is highly unlikely to serve any jail time.


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