Danny Healy Rae’s plant hire company posts record profit

New accounts lodged by Healy-Rae Plant Hire Ltd show that it enjoyed the bumper year in spite of pandemic restrictions

Danny Healy-Rae’s plant hire firm reported record profits last year in spite of the impact of Covid-19 restrictions on the business. Photograph: Nick Bradshaw

Danny Healy-Rae’s plant hire firm reported record profits last year in spite of the impact of Covid-19 restrictions on the business. Photograph: Nick Bradshaw

 

The plant-hire and civil engineering company owned by outspoken Independent Kerry TD and farmer Danny Healy-Rae enjoyed a record year in 2020 by achieving post-tax profits of €743,244.

This represented a 67 per cent increase on the €444,714 profits for 2019.

New figures lodged by Healy-Rae Plant Hire Ltd with the Companies Office show that it enjoyed the bumper year in spite of the disruption to its work programme by the Covid-19 pandemic.

A note attached to the accounts states that the company “experienced a decrease in its activities in the first half of 2020 due to the restrictions imposed by the Government” with the company availing of State supports during this time.

At the end of December last, the business had accumulated profits of €2.58 million while its cash pile increased from €630,824 to €2.022 million.

Figures released by Kerry County Council earlier this year showed that Healy-Rae Plant Hire Ltd received €341,347 (including VAT) in 2020 for plant-hire work out of a total spend of €4.6 million by the council on plant hire and haulage services.

The note on the Covid-19 impact further states that “the directors will continue to modify the company’s plans in line with Government advice and the directors believe that the company is well positioned to return to full trading capacity once this period of uncertainty passes”.

The accounts state that Danny Healy-Rae and Eileen Healy-Rae control the company. Their son Johnny Healy-Rae runs the day-to-day operations of the business.

Danny Healy-Rae was co-opted onto Kerry County Council in 2003 to fill his late father Jackie Healy-Rae’s seat, and the 67-year-old was first elected to the Dáil in 2016.

The register of members’ interests at Dáil Eireann lists Mr Healy-Rae’s other occupations as publican, farmer, bus hire and plant hire.

In the register, Mr Healy Rae states that he has shares in the Kerry Group plc, and owns 50 acres of farmland at Fossa, Kilgarvan, another 38 acres of farmland at Gullaba, Kilgarvan, and three acres at Gortnaboul, Kilgarvan.

The register confirms that the Mr Healy Rae’s company has contracts with Kerry County Council, Irish Water and Bus Éireann.