Thursday July 2, 2020

Kinsale Financial made $96m with just two employees

The Irish treasury operation of a giant US pharmaceutical company made profits of more than $96 million (€81 million) in 2004, despite employing just two people.

18th February, 2006

The Irish treasury operation of a giant US pharmaceutical company made profits of more than $96 million (€81 million) in 2004, despite employing just two people.

Kinsale Financial Services, a subsidiary of Eli Lilly, reported pre-tax profits of $96.4 million in the year to December 31, 2004.

The profits were recorded after paying the US parent an $8.5 million dividend and paying $13.6 million in taxes to the Revenue Commissioners, according to accounts filed in the Companies Office.

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