Directors at Henry J Lyons share €2.9m in pay as firm's revenues stabilise at €30m
A breakdown shows that pay to the directors remained static at €2.53m for last year while the overall increase arose from pension contributions rising from €224,520 to €402,912.
The €2.9m figure remains sharply down on the €3.82m paid out in fiscal year 2022.
Last year, revenues increased marginally from €30.07m to €30.66m.
This followed revenues sliding by 18pc, or €6.6m, from €36.64m to €30.07m in the previous year which coincided with a downturn in the Dublin office market.
In fiscal 2024, the group – with offices in Cork and Dublin – recorded a very modest pre-tax profit of €478,000 which compared to a pre-tax loss of €135,269 in the previous year.
The group last year recorded a post-tax loss of €62,029 after a corporation tax charge of €62,507 was taken into account.
The group's profits were hit last year by a €112,370 cost concerning the disposal of a subsidiary.
Last year, the company's workforce reduced from 275 to 237 with the number of architects reducing from 241 to 221 and numbers employed in administration declining from 34 to 25.
Staff costs reduced from €22.29m to €21.3m.
Last week, planners at An Coimisiún Pleanála rejected the firm's designs for Johnny Ronan's RGRE planned 17-storey redevelopment of global banking giant Citigroup's current European headquarters at 1 North Wall Quay in Dublin's docklands.
However, some of the firm's schemes to get built include Clerys Quarter on Dublin's O'Connell Street along with the Central Bank HQ on North Wall Quay and the Google Flour Mills building.
The directors state that 'the trading results for the year and the financial position at year-end were considered satisfactory by the directors'.
The pre-tax profit last year takes account of non-cash amortisation and non-cash depreciation costs of €816,783.
The group's balance sheet shows that accumulated profits at the end of September last totalled €5m while the group's cash funds reduced from €9.48m to €5.8m.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Times
an hour ago
- Irish Times
Dart expansion to Drogheda approved in move to supercharge commuter capacity
Plans to significantly increase commuter capacity on train services between Drogheda , Co Louth and Dublin city, including the electrification of the existing rail line, have been given the go ahead. An Coimisiún Pleanála, the planning authority, gave approval for the Dart+ Coastal North Railway Order, in a decision announced on Thursday. The current northside Dart network runs from Dublin city centre as far as Malahide and Howth. Under the new plan, electric-powered trains would operate as far north as Drogheda , incorporating a huge section of Dublin's surrounding commuter belt. Construction of the new infrastructure could take up to three years, subject to funding availability. READ MORE Irish Rail said the project would significantly increase peak hourly capacity and frequency on the northern route between Dublin city and Malahide, Howth and Drogheda. It said that potentially, capacity could nearly double from about 4,800 to 8,800 passengers at peak times. Such an increase in services would be subject to demand, it said, and would form part of a separate timetable consultation process in conjunction with the National Transport Authority. The plan involves 37km (23 miles) of electrification and re-signalling along the railway line between Malahide and MacBride Station in Drogheda. In addition there will be a reconstruction of the existing track layout in the vicinity of Drogheda, Malahide, Clongriffin and Howth Junction/ Donaghmede stations. [ The Irish Times view on public transport in Dublin Opens in new window ] However the plan to increase capacity on the northern line could necessitate timetable changes curtailing existing direct train services between Howth and Dublin city. This could involve the possible introduction of a shuttle service between Howth Junction/ Donaghamede and Howth. That potential change has generated considerable opposition from some residents using Howth, Sutton and Bayside stations as it would require passengers from those areas to change trains at Howth Junction. Irish Rail and the CIE group maintained during the planning process that any such changes would not come into effect immediately and would require further public consultation. Critics of the plan argue that a shuttle service to Howth would involve existing level crossings being closed on a more frequent basis, further inhibiting traffic. However, the planning commission said such an increase in level crossing closures would improve train efficiency and remove delays on the railway caused by congestion. It also said that while the changes may, in time, bring about a new shuttle service to Howth, general environmental impacts in terms of traffic, transportation, residential amenities, property valuation, noise and vibration would not be significant. Proposed design and security provisions at Howth Junction/ Donaghmede station would be expected to 'aid in minimising and monitoring the effects of antisocial behaviour'. Construction of the new rail infrastructure could take up to three years, subject to funding. Photograph: Hugh Dooley/ The Irish Times Remodelling the service would lead to potentially significant, negative short-term effects from the construction phase in terms of noise, vibration, dust, access restrictions and traffic including night-time work. However, it said, these would be mitigated through compliance with an environmental and traffic plan as well as best-practice building methods. Irish Rail chief executive Jim Meade described the decision as 'a great day' for the communities of north Dublin and Co Louth. 'The provision of Dart services will transform commuting for the existing and new communities along this railway corridor,' he said. Minister for Transport Darragh O'Brien said the new initiative would facilitate a significant improvement in train capacity and frequency on the Northern commuter line, following project procurement and construction. 'In the meantime, I look forward to the launch of the sustainable new Dart+ battery-electric train fleet, which is currently undergoing testing and which will be initially deployed on the northern line between Dublin and Drogheda when operational,' he said.
Irish Daily Mirror
6 hours ago
- Irish Daily Mirror
Irish leaders welcome clarity on EU-US trade deal and pharma tariffs cap of 15%
Ireland's leaders have welcomed clarity on the EU-US trade deal, which sees the US commit to capping tariffs on pharma goods at 15 per cent. Taoiseach Micheal Martin said the trade agreement represented a "significant win" for the EU while Tanaiste Simon Harris said it offered an "important shield" for Irish exporters. The EU struck a trade deal with the US on July 27, five days before Mr Trump said a 30 per cent tariff would kick in for the bloc. The deal sees 15 per cent tariffs on most EU goods including cars, semiconductors and pharmaceuticals entering the US. United States President Donald Trump makes remarks as he participates in a Multilateral Meeting with European Leaders in the East Room of the White House in Washington, DC, US. Picture date: Monday August 18, 2025. PA Photo. Photo credit should read: Aaron Schwartz/PA Wire There are "zero for zero" tariffs on a number of products including aircrafts and aircraft parts, some agricultural goods and certain chemicals – as well as EU purchases of US energy worth $750 billion over three years. In the aftermath of the deal, it was not clear whether 15 per cent would remain the rate for the pharma sector or be increased. The EU-US statement published on Thursday said that as of September 1, the US will apply a maximum tariff rate of 15 per cent on generic pharmaceuticals, their ingredients and chemical precursors. "The United States intends to promptly ensure that the tariff rate, comprised of the MFN (Most Favored Nation) tariff and the tariff imposed pursuant to Section 232 of the Trade Expansion Act of 1962, applied to originating goods of the European Union subject to Section 232 actions on pharmaceuticals, semiconductors, and lumber does not exceed 15 per cent." Mr Harris, Tanaiste and Minister for Foreign Affairs and Trade, welcomed the assurances for the pharmaceutical and semiconductor sectors. "We welcome clarity that the deal includes a single, all-inclusive 15 per cent tariff on EU goods," Mr Harris said. Tanaiste Simon Harris "We also now have assurance that this rate will extend to pharmaceuticals and semiconductors. "This provides an important shield to Irish exporters that could have been subject to much larger tariffs pending the outcomes of Section 232 US investigations into these sectors." Mr Harris said this offered a "first step" to a more "comprehensive and formal agreement with the US in the future". "Our intention now is to see what other carve outs can be made in areas of interest for Irish exporters." Taoiseach Micheal Martin said the statement brought "greater clarity and certainty" to what the EU-US agreement would mean in practice. "This is especially important for enterprises that either import from or export to the US," he said. Taoiseach Micheal Martin "Given the scale of the pharmaceutical and semiconductor sectors in Ireland, it is important that the Joint Statement confirms that 15 per cent is a ceiling that will apply to EU exports in these areas in all circumstances, including when the current US Section 232 investigations are concluded. "While I have been clear all along that I do not support tariffs, this is a significant win for the EU. "Given the significance of the airline sector to Ireland, a specific carve-out for aircraft and aircraft parts is also welcome. "There are areas where further work remains to be done, including a potential carve-out for med-tech products and spirits. "I hope this will be advanced as quickly as possible. We will continue to advocate for these sectors given their significant importance to our domestic economy." Subscribe to our newsletter for the latest news from the Irish Mirror direct to your inbox: Sign up here.
RTÉ News
8 hours ago
- RTÉ News
What's in Trump's trade deal with Europe?
The US and the European Union agreed a joint statement on the framework trade deal struck at the end of July to end months of uncertainty for industries and consumers. Here are the main elements of the statement, produced after weeks of wrangling, spelling out what both sides have agreed to. EU to eliminate tariffs on all US industrial goods - The EU is to remove tariffs on all US industrial goods and provide preferential market access for a wide range of US seafood and agricultural goods, including tree nuts, dairy products, fresh and processed fruits and vegetables, processed foods, planting seeds, soybean oil, and pork and bison meat. Baseline US tariff rate on EU goods - Almost all EU goods entering the US will be subject to a 15% baseline tariff. The 15% tariff is not added to any existing rates. It is designed to be the maximum rate, except for limited instances of pre-existing rates being higher. Cars - Cars and car parts will be subject to the 15% tariff, compared to the 27.5% they face now, but only from the first day of the month in which the European Union introduces as legislative proposal to remove its tariffs on US industrial goods. The joint statement also says that the US and the EU intend to accept and provide mutual recognition of each other's standards for cars. Pharmaceuticals and semiconductors - EU pharmaceuticals and microchips and lumber will be subject to 15% tariffs. This will only be the case after the US concludes Section 232 investigations and sets new global tariff rates for the two sectors. For the EU, the maximum rate would be 15%. For now, there are only subject to low or zero pre-existing duties. Other sectors - The US will apply only the Most Favoured Nation (MFN) tariffs from September 1 on the following EU products: unavailable natural resources (including cork), all aircraft and aircraft parts, generic pharmaceuticals and their ingredients and chemical precursors. Metals - The joint statement does not mention any specific tariff rates for EU metals exports to the US, saying only that both sides "intend to consider the possibility to cooperate on ring-fencing their respective domestic markets from overcapacity, while ensuring secure supply chains between each other, including through tariff-rate quota solutions." EU and US officials have previously said tariffs on European steel, aluminium would stay at 50%, with the same tariff also applying from August 1 to copper. EU officials have said European metal exports within an agreed quota would face the most-favoured nation tariff rate agreed under WTO rules, which are low and in some cases zero depending on the grade. Exports outside of the quota would be subject to 50% tariffs. Wine and Spirits - The written joint statement does not mention the wine and spirits sector specifically. It says however, that both sides "agree to consider other sectors and products that are important for their economies and value chains for inclusion in the list of products for which only the MFN tariffs would apply." Strategic purchases - The European Union commits in the joint statement to procure US liquefied natural gas, oil, and nuclear energy products with an expected offtake valued at $750 billion up to 2028. The EU also declares its intention to buy at least $40 billion worth of US AI chips for its computing centres. The EU also plans to work with the US to adopt and maintain technology security requirements in line with those of the US to avoid technology leakage to "destinations of concern." European companies are to invest $600 billion in across strategic sectors in the US up to 2028. EU officials said the investment pledge was based on the combined investment intentions expressed by European companies. Defence procurement - EU member states will purchase US military equipment. The deal does not specify an amount. Other items - The EU will work with the US to streamline requirements for sanitary certification for US pork or dairy products. The two sides will also cooperate on investment screening and export controls as well as addressing 'non-market' policies, such as China's subsidised production. The EU will work to address the concerns of US producers regarding the EU deforestation law to avoid undue impact on trade, because production in the US poses "negligible risk" to global deforestation. The EU commits to work to provide additional flexibilities to US small and medium sized companies concerned about the impact of the EU's Carbon Boarder Adjustment Mechanism - the law that imposes a tax on goods imported to the EU from regions which do not have CO2 emissions laws as strict as in Europe. Digital services - The joint statement says that the US and the European Union commit to address unjustified digital trade barriers and that the EU confirms that it will not adopt or maintain network usage fees.
