KERRY TD MICHAEL Healy-Rae’s property management firm recorded combined profits of €841,908 over a two-year period, new account filings show. 

In the 12 months to the end of May 2024, the minister of state’s first Roughty Properties Ltd recorded post-tax profits of €376,048.

It recorded a €465,860 post tax profit in its first year in operation from May 2022 to May 2023. 

The profits for the two periods add up to a combined €841,908 post tax profit. The accounts filed are abridged and don’t provide a revenue figure.

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

The portfolio includes Rosemont House in Tralee, a guesthouse providing accommodation for Ukrainians who came to Ireland to flee the war.

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

Roughty Property Ltd is Healy-Rae’s most profitable enterprise, with the accounts showing two years of strong profits. 

Cash funds at the company last year increased from €555,933 to €718,046. The company also strengthened its balance sheet during the year with the addition of a fixed asset which has a book value of €204,519.

Healy-Rae owns 100% of the share capital of the company.

Under the heading of directors’ loans, a note states that at the end of May 2024, “there were no loans, quasi loan, credit transactions or guarantees for and on behalf of the directors”.

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.

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.

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.

Healy-Rae’s entry to the Dáil’s members’ register of interests lists his other occupations as postmaster, farmer, service station owner and owner of rental properties.

The Kerry TD also has shares in the New York Times and owns 146 acres of farmland/forestry.