FRANK Keane (Holdings), whose main business is the distribution of BMW cars through its Motor Import subsidiary, has reported strong growth during 1994, with pre tax profits up over 34 per cent to £1.95 million. Sales grew by 15 per cent to £60.2 million.
According to a recent filing with the Companies Office obtained by Private Research, Frank Keane's operating margins were unchanged at a comfortable 10.7 per cent while the company also benefited from a sharp drop in its interest charge from almost £430,000 to just over £284,000.
Despite the improvement, the company opted to retain a greater portion of its earnings - £866,785 compared to £697,470 - with the result that dividends paid fell from £287,284 to £127,206.
The accounts show, however, that the two directors, Mr Frank Keane and Mrs Ursula Keane, received remuneration of £300,000 in 1994, down from over £385,000 the previous year.
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