Directors’ pay at Hooke & MacDonald rises to €3.35m in 2021

The directors of Dublin property firm Hooke & MacDonald saw aggregate pay increase by €700,000 to €3.35 million in 2021.

Accounts for the business show that directors’ pay of €3.39 million was made up of €3.35 million remuneration and pension contributions of €37,298. On average, directors earned pay of €419,875 for the year.

There were eight directors listed for 2021: David Lawlor, Ken MacDonald, David Cantwell, Renagh MacDonald, Donald MacDonald, Des Donnelly, Enda Moore and Gavin Hanlon.

The directors’ remuneration last year compares to €2.68 million in 2020, €4.38 million in 2019 and €3.68 million in 2018, in what is traditionally a volatile business, with pay rising and falling with the market.

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Established in 1967, the firm is one of the longest-established and best-known estate agents in the country.

Buoyant year

On the back of a buoyant year in Dublin’s property sector, it increased employees to 75 from 67. The increase in headcount mainly took place in sales, letting and property management rising from 47 to 52. The overall increase in numbers employed contributed to the company’s staff cost bill rising 24 per cent to €7.1 million.

The company has sold more than 22,000 new houses and apartments since 2000. While it sells properties across Ireland, the main target areas are Dublin, Kildare, Meath, Wicklow, Wexford and Kilkenny. It specialises in selling new homes, but also offers a range of property services for individual and corporate clients.

David Lawlor, David Cantwell, Renagh MacDonald, Donald MacDonald and Ken MacDonald each have a 20 per cent share in the business, according to the annual return filed for the company.

The sharp increase in staff costs, including directors’ pay contributed to post-tax profits at the business declining sharply from €70,253 in 2020 to a more modest €8,228 in 2021. At the end of December last, the firm’s accumulated profits stood at €400,570 while cash funds increased from €937,507 to €1.06 million. The accounts are abridged and don’t provide revenue for the year.