O’Callaghan company sees pre-tax profits rise to €12.5m
Moyglen Holdings, a company that is 40 per cent owned by Cork developer Owen O’Callaghan, recorded a 40 per cent increase in pre-tax profits to nearly €12.5 million for the year ended June 30, 2006.
Accounts recently lodged for the company showed that turnover rose strongly during the financial year, u p from €18.15 million to €27.8 million. Retained profits rose more than 50 per cent to €32.35 million at the end of the year.
A note in the accounts states that the company has continued the development of residential schemes in the Cork area and its activity has increased, which will result in increased turnover in the next financial year.
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