Former Gallagher firm back in profit

The firm co-founded by businessman and failed presidential candidate Sean Gallagher returned to profit last year after three years of successive losses.

Smarthomes Ltd, based in Dundalk, Co Louth, recorded a profit of €46,048 in the year to the end of Dec 2011, following three years of accumulated losses totalling €1.38m.

In July last year, Mr Gallagher disposed of his shareholding in Smarthomes in line with his commitment to step aside from all commercial activity ahead of the presidential election.