Denis Mahony motor group returns to profit

Dublin-based car dealership Denis Mahony Holdings has returned to profit, following after-tax losses of €115,801 in 2011.

The company posted an after-tax profit of €695,357 on total revenues of €32.5 million for the financial year to the end of October 2012.

It reported an operating profit of €763,833 last year, compared with an operating loss of €17,386 the previous year.

The company paid more than €3.5 million in wages, social-welfare costs and pension costs to 73 employees last year. This figure is up from 2011 despite fewer staff being employed.

Accounts filed with the Companies Office show remuneration and pension contributions of €376,969 were paid to the directors, Denis and John Mahony.

The directors said they were pleased with the improved performance both in terms of increased sales volumes and profitability.

Founded in 1963, the motor group acts as dealer for the Toyota, Mercedes-Benz and Lexus brands. It has dealerships in Kilbarrack and at the Finglas exit of the M50 in Dublin.