Profits at car hire and garage firm Dan Dooley Group dropped 4% to €1.74m in its last year as an independent company.
US giant Enterprise, which operates the Enterprise Rent-A-Car, National Car Rental, and Alamo Rent-A-Car brands in more than 85 countries, said in April it had bought the 1,400-strong fleet of the Limerick-based Dooley firm. The acquisition price was not disclosed but parts of Dan Dooley, including its Ford dealerships in Tipperary and Limerick, were not sold under the deal.
The latest accounts show that Dan Dooley’s revenues increased 4% to €34m in the 12 months to the end of November. Pay to directors — listed as James, Patrick, and Daniel Dooley — more than doubled from €316,263 to €700,063.
The accounts show an increase in sales was offset by increased costs. Its operating profits fell 11% to €2m. Interest charges of €320,877 were substantially lower than the €499,378 in the previous year.
“The company is dependent on tourism in Ireland and is optimistic that the industry will continue to expand,” states the Dan Dooley accounts.
“The directors are of the opinion that the company is in a position to increase turnover in future years without any major increase in costs.”
Dan Dooley continued to face strong competition in the market, it stated.
Shareholder funds at the end of November stood at €13.6m. The company’s cash reduced from €8m to €6.2m.
The profits take account of non-cash depreciation costs of €163,494.
Staff numbers rose slightly to 98, with 74 people working in self-drive operations. Staff costs, including directors’ pay, increased from €3m to €3.6m.
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