The total remuneration of the directors of the Dublin real estate company Hooke & MacDonald recently rose by 700,000 euros to 3.35 million euros.
After a buoyant year in Dublin’s property sector, new reports show Hooke & MacDonald was in expansion mode in 2021 as the workforce rose from 67 to 75.
The increase in personnel was mainly in the areas of sales, letting and property management from 47 to 52. The overall increase in the number of employees contributed to the fact that the company’s personnel costs rose by 24 percent or €1.37 million from €5.72 million to 7 €.1 million increased m.
Personnel expenses including the managing directors consist of salaries of €6.66 million, social security contributions of €391,604 and pension contributions of €250,327.
Last year there were eight directors on the board and they are listed as David Lawlor, Ken MacDonald, David Cantwell, Renagh MacDonald, Donald MacDonald, Des Donnelly, Enda Moore and Gavin Hanlon.
The accounts were signed on September 7th and show that last year’s Management Board remuneration of €3.39 million was made up of €3.35 million in remuneration and €37,298 in pension contributions.
The 3.35 million euros in salaries last year averaged 419,875 euros per director.
The company’s annual accounts show David Lawlor, David Cantwell, Renagh MacDonald, Donald MacDonald and Ken MacDonald each owning 20% of the company.
Management Board remuneration over the past year compares to €2.68 million in 2020, €4.38 million in 2019 and €3.68 million in 2018.
The sharp rise in staff costs, including directors’ salaries, contributed to the company’s after-tax profit falling sharply from €70,253 in 2020 to €8,228 in 2021.
Net income includes non-cash depreciation and amortization costs of €36,503.
At the end of December last year, the company’s cumulative earnings amounted to €400,570, while cash and cash equivalents increased from €937,507 to €1.058 million.
The accounts show that the company owes the directors various amounts. David Cantwell is owed €216,000, David Lawlor €216,504, Renagh MacDonald €215,600, Donald MacDonald €194,247 and Ken MacDonald €92,000.
The accounts are truncated and do not include sales figures for the year.
Established in 1967, Hooke & MacDonald is one of the longest established and best known real estate firms in the country.
The company has sold over 22,000 new homes and apartments since 2000. Whilst the company sells property across Ireland the main target areas are Dublin, Kildare, Meath, Wicklow, Wexford and Kilkenny.
https://www.independent.ie/business/commercial-property/directors-pay-at-property-firm-hooke-and-macdonald-rises-to-335m-42004992.html The board salaries of the real estate company Hooke & MacDonald rise to 3.35 million euros