ARMALOU HOLDINGS, parent company of the group involved in the importation, distribution and sale of Jaguar, Land Rover and Volvo cars in the Republic, made a pre-tax profit of €504,748 last year, according to accounts just filed.
The group includes Jaguar Land Rover Ireland Ltd, which distributes Jaguar, Land Rover and Range Rover cars in the Republic, and the Spirit Motor Group, a motor retail business based in south Dublin that sells the above marques and also Volvo cars.
The consolidated accounts show turnover in 2010 was €40.84 million. Armalou Holdings, which did not trade in 2009, acquired the shares in Jaguar Land Rover Ireland Ltd in March of last year from Armalou Ltd, a connected company.
The called up share capital of Armalou Holdings is €3.78 million and no dividend was paid in 2010, bringing shareholders’ funds to €4.39 million at year’s end.
Staff costs in Armalou Holdings accounts were €3 million although the staff are employees of a connected company, DAF Distributors. The costs attributable to Armalou were transferred to its accounts.
Directors’ remuneration was €204,437. The directors were Conal O’Brien, Gabriel Hogan, and Declan McCourt. Mr O’Brien has 693,334 ordinary shares in the company while the other two directors have 1.26 million each.
