Half-year profits surge to £450,000

Dunloe House continues to record strong growth

Dunloe House continues to record strong growth. Pre-tax profit jumped from £26,613 to £450,000 in the six months ended June 30th 1997, according to interim results, released yesterday. The profit is more than double the £206,967 generated in the whole of 1996.

While rental income and service charges rose from £213,077 to £852,120, the main impetus to profit growth came from developments and the sale of properties which amounted to £5,553,125, up from £871,800.

Rental income reflects income from the industrial units at Airways Industrial Estate acquired in October 1996 and income from the Mill Shopping Centre in Clondalkin acquired in May 1997, according to the chairman, Mr Noel Smyth. Turnover also reflects sales at Merrion Street and developments at Old Distillery and Beresford Street.