Pretax profits at Lisney up 30%

"JAMES NUGENT, the newly appointed managing director of property firm Lisney, has said he is satisfied with the company’s performance last year.

The firm’s pretax profit increased by 30 per cent from €427,793 to €560,132.

Operating profits jumped 81 per cent from €466,114 to €846,149 in the 12 months to the end of March last year, according to accounts just filed.

The lower increase in pre-tax profit compared to operating profit is attributable to the company taking a property writedown of €269,738. It increased its operating profits despite of the firm’s gross profit decreasing by 4 per cent from €8.9 million to €8.5 million last year.

The abridged accounts do not provide a turnover figure. Mr Nugent said revenues declined by less than 5 per cent while operating expenses declined by 7 per cent, from €8.5 million to €7.8 million" … 33807.html

Thanks thats interesting, but bear in mind it is for the a/c period to March 2011.

I wonder what the directors’ fees came to?

I don’t think that this reflects a rebound in the market.

The more salient question is, how much NAMA payed them for their services?


Thats a good point and one I hadnt thought of. … 73969.html

Appointed by Nama early 2010, feeding into the accounts just posted.

I see from article above that Pat Rabbite thought the likes of Lisney benefitting from the taxpayer via Nama was outrageous. Has he done anything since going into Government to address this outrage?