Rohan family share in €1.34m dividend

MEMBERS of the Rohan family, behind one of the country’s best known property firms, Rohan Holdings, last year enjoyed a dividend of €1.34m.

Accounts filed by the holding firm for Rohan Holdings, Airspace Investments Ltd and subsidiaries, show that the business enjoyed profits of €7m in the 12 months to the end of November last.

The pre-tax profits were down sharply on the €27.1m of 2015 that included a €11m increase in the value of the group’s assets.

The decrease in profits followed revenues increasing by 44pc going from €14.3m to €20.65m in 2016.

Airspace Investments was established by well-known businessman Ken Rohan, and the business is today headed by Mr Rohan’s son, Jamie (inset).

Over 40 years in business, the company is engaged in developing prestige offices, high quality business parks and industrial premises and is expanding further into the development of quality residential estates.

Ken Rohan remains the largest shareholder in the business with almost 54pc of the shares.

Other shareholders are listed as Jamie Rohan, Alison Rohan and David Rohan.

The €1.34m dividend follows a €5.25m dividend in 2015. This followed combined dividends of €5.6m in 2014 and 2013.

The group’s clients include Google, BT, Oracle, Eason, Pfizer, Microsoft, Dulux, IDA Ireland, Oracle and DHL.

According to the directors’ report “the strength of the group is reflected in €99m of property assets which have no attributable bank debt”.

The group’s developments include Grand Canal Plaza in Dublin City Centre, the ALSAA Social and Leisure Complex at Dublin Airport, the Dublin Airport Logistics Park, North City Business Park and Royal Liver Assurance Retail Park.

The company recorded a post tax profit of €4.6m after paying corporation tax of €2.35m