Pretax profits on the decline at estate agents Lisney

Lisney, one of the largest estate agents in Ireland, saw profits fall in the year ending March 31st, 2016, recently filed abridged accounts reveal.

Pretax profits fell to €700,175 from €814,046 a year earlier as gross profits slipped from €12.7 million to €12.5 million.

Administrative expenses at the company, which has offices in Dublin, Belfast and Cork, fell to €11.9 million from €12 million in the prior year.

Shareholders’ funds totalled €2.5 million at the end of the reporting period, versus €1.8 million a year earlier.

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Lisney is a property advisory company providing both residential and commercial property services. The company was originally established as Harry Lisney and Son in 1934, having traded as Franks and Franks for the previous 10 years.

The total amount of trade debtors was €2.28 million, compared to €3.07 million for the year ending March 31st, 2015.

Staff costs at the company, which employs 114 people, fell to €8.6 million from €9.07 million, despite the headcount rising by 10.

Directors’ remuneration totalled €3.04 million, as against €3.72 million in the previous year.