Pre-tax profits at Lisney rise 37%

Pre-tax profits last year rose by 37% to €161,458 at one of the country’s largest property firms, Lisney.

New figures just filed with the Companies Office show that Lisney Ltd recorded the increase in pre-tax profits in spite of the firm’s gross profit decreasing by 6.6% from €7.4m to €6.9m in the 12 months to the end of Mar 31, 2013. The firm’s operating profits last year declined by 27% from €692,512 to €506,345.

A combined reduction of a provision for impairment of loans and property write- down from €582,144 to €357,186 contributed to the rise in pre-tax profits last year. The loan impairment provision reduced from €432,144 to €257,186 with the property write down decreasing from €150,000 to €100,000.

Operating expenses fell from €6.8m to €6.5m. A tax charge of €50,248 gave the firm post tax profits of €111,210. The firm’s cash balance increased from €581,452 to €724,497.

Staff numbers rose from 90 to 93 with employment costs decreasing by 4%, from €4.53m to €4.34m.

Emoluments for the firm’s 12 directors reduced by €150,082 from €941,216 to €791,134 last year.

Profits took account of non-cash depreciation costs of €159,523. Shareholder funds reduced from €1.51m to €1.28m


Sunday Lunch costs €45 per person and includes several set courses but with a choice of mains.Restaurant Review: Bastible Restaurant, Dublin

It never ceases to stop me in my tracks when I hear my husband intone to our children one of the oft overused phrases from my stockpile of, “Can you just not?” categories.Lindsay Woods: If my children feel I’m doing it wrong then I must be doing it right

The season of mists and mellow fruitfulness — John Keats had it right about autumn.Eyes on the pies: Eight apple tarts put to the taste test

Simone Rocha invited ieStyle into her London studio for an exclusive look behind the scenes as she put the finishing touches to her acclaimed collection for Fashion Week. Rachel Marie Walsh reportsBeing Simone Rocha: An exclusive look behind the scenes

More From The Irish Examiner