By Gordon Deegan

A property management firm owned by Minister for State at the Department of Agriculture, Food and the Marine (DAFM) and farmer, Michael Healy-Rae, linked to the Kerry TD’s Rosemont guesthouse accommodating Ukrainians, recorded post-tax profits of €465,860 in 2023.

Earlier this year, Deputy Healy Rae was appointed a Minister of State with special responsibility for forestry.

Now, new accounts filed by Minister Healy-Rae’s Roughty Properties Ltd., show that it recorded the €465,860 post-tax profit in its first year in operation from the date of incorporation for the 12 month 23 day period from May 9, 2022 to May 31, 2023. 

The abridged accounts do not disclose revenues but they do show that at the end of May 2023, the company’s cash funds totalled €555,933.

The overdue accounts were filed after a district court order dated May 13 last extended time in which the annual return could be lodged with the Companies Office.

The annual return shows that Minister Healy-Rae owns 100% of the share capital of the company.

The independent Kerry TD's entry in the Dáil Register of Members' Interests states that the main activity of Roughty Properties Ltd., is 'management of rental properties'. 

In the register, Minister Healy-Rae describes himself as an owner of rental properties and his entry lists 17 separate properties for letting including 14 houses.

Separate figures published by the Department of Children, Equality, Disability, Integration and Youth show that Minister Healy-Rae’s Rosemont House in Tralee has received €1.22 million over two years and three months to the end of December last.

In 2022, Kerry County Council refused planning permission to Roughty Properties Ltd's planning application for a three-storey extension to expand guest capacity at Rosemont Guest House.

The new accounts confirm that the Roughty property firm is now Minister Healy-Rae’s most profitable enterprise.

Separate accounts filed earlier this year by Minister Healy-Rae’s plant hire firm, Roughty Plant Hire Ltd., show that its accumulated profits increased by €74,887 from €734,024 to €808,911 in the 12 months to the end of April 2024.

The post-tax €74,887 profit at the plant hire services business for the 12 months was an 80% increase on the €41,415 post-tax profit for the prior 12 months.

During the 12 months the company’s cash funds more than doubled from €198,748 to €434,224.

Numbers employed at the Kilgarvan-based business during the year declined from 12 to five.

Separate accounts for another Michael Healy-Rae firm which operates a fuel station and grocery shop in Kilgarvan show that it recorded post-tax losses of €26,986 last year.

Accounts for Black Cap & Company Ltd., show that the firm recorded the post-tax losses of €26,986 in the 12 months to the end of April 2024 are down sharply on the post tax losses of €67,583 in the prior year.

Last year, numbers employed by the business declined by one to 15, including directors. The company operates from a building housing a shop at Kilgarvan village. 

Deputy Healy-Rae’s entry to the Dail’s Members’ Register of Interests lists his other occupations as postmaster, farmer, service station owner and owner of rental properties. The Kerry deputy also has shares in The New York Times.

Deputy Healy Rae also has 146ac of farmland/forestry.