Profits up at family-owned Garvey retail and hotel group

In 2021, the business expanded with the purchase of Lohans Centra Foodstore in Adare, Co Limerick, buying the outlet with cash reserves.

Numbers employed by the group last year increased by 43 from 726 to 769 as staff costs went up from €16.82 million to €18.75 million. Directors’ pay totalled €746,508.Irish Times Current Affairs Editor Arthur Beesley joins Ciarán Hancock to discuss the recent spike in applications by wealthy Chinese citizens to the Immigrant Investor Programme.

The group’s profits benefited from investment income of €144,000 and Covid-19 grant income of €1.47 million comprised of €1.23 million in Employment Wage Subsidy Scheme supports and €238,791 from the Covid Restrictions Support Scheme. A note attached to the accounts states that at the end of the period, the group had exited the EWSS and CRSS programmes.The group proposed dividend payments of €47,970.

Shareholder funds on January 15th this year totalled €36.79 million, including accumulated profits of €36.4 million.IN THIS SECTION

Source: News Formal (newsformal.com)

Of course they have as they rip us all off

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