Property firm directors share €4.78m in pay

THIRTEEN directors at Dublin-based commercial property firm Jones Lang Lasalle (JLL) shared €4.78m in pay – or an average of €368,153 each – last year.

New accounts from Jones Lang Lasalle Ltd show pre-tax profits declined marginally to €4.6m and revenues fell from €20.66m to €20.6m. According to the directors’ report, “during the year turnover and net profit deceased by 0.27pc and 0.94pc respectively”.

“This business has continued to trade profitably in 2017 and the directors are confident about the future prospects for the business,” directors said.

Numbers employed last year remained static at 92 with staff costs, including directors’ pay, increasing from €11.5m to €11.84m. The aggregate pay to directors last year fell from €5.77m to €4.78m.

The directors who served during the year are listed as Stephen Murray, Nigel Healy, Desmond Lennon, Margaret Fleming, John Moran, Pauline Daly, Fionnuala O’Buachalla, Deirdre Costello, Michael Miland, Max Reilly, Andrew McCracken, Conor O’Gallagher and Lisa McGrane who resigned from the board in May of this year. The profit last year takes account of lease payments of €492,000 and non-cash depreciation costs of €347,000.

The balance sheet strengthened with accumulated profits rising from €46.15m to €50.7m.

Financial assets remained static at €18.2m. Total administrative expenses last year rose from €16.16m to €16.24m.

The firm made an operating profit of €4.36m and net interest receivable of €270,000 increased the firm’s profits to €4.63m.

It recorded a post-tax profit of €3.99m after incurring corporate tax of €646,000.