Latest news with #Distilled
RTÉ News
8 hours ago
- Business
- RTÉ News
Profits at operator of daft.ie and donedeal.ie slow by 38%
Pre-tax profits at the operator of and last year declined by 38% to €7.55m due to higher costs. New group accounts filed by Distilled Ltd show that pre-tax profits declined despite revenues rising by 14% from €41.38m to €47m in 2024. Brothers Eamonn and Brian Fallon, who set up property website each have a 17% share in Distilled and they continued to add to their fortune in 2025 and last year. The new accounts show that Distilled Ltd has paid out combined dividends of €28.8m this year and last year with dividends of €17.3m paid out this year and this followed a dividend payout of €11.5m in 2024. The dividend payouts for 2025 and 2024 follow generous dividend payouts made in prior years. In a deal last November, the entire Distilled business was valued at €624m after European online classifieds group Adevinta sold its 50% stake in Distilled Ltd for €312m to Dublin based fund manager Blacksheep Fund Management. The deal put an estimated value of €212m on the Fallon brothers' joint 34% share in the business. Separate accounts filed to Companies House in the UK show that Adevinta entity, Aurelia UK Feederco Ltd, booked a gain of €159m in 2024 from the €312m deal. Distilled Media is today one of the country's most successful online ventures and along with and the group also operates and The property website was established in 1997 by Eamonn and Brian Fallon who were only aged 20 and 15 at the time. Distilled Ltd was established in 2015 after operations along with that of sister company, were merged with Norway based Schibsted Media's Numbers employed by the group in 2024 increased from 148 to 162 as staff costs rose from €14.16m to €15.48m. The staff costs included termination payments of €315,652. Commenting on the 2024 results, a spokeswoman for Distilled today said "Distilled's diversified portfolio continues to deliver strong momentum across verticals, underpinned by high consumer engagement and ongoing product innovation". Figures provided by Distilled show that DoneDeal now attracts 6.4 million monthly visitors and according to IPSOS, it is now the number one platform in Ireland for car buyers to discover vehicles from car dealerships. Distilled state that continues to perform as a highly active peer-to-peer marketplace, drawing around 2 million monthly users and facilitating 200,000+ new listings each month. "The platform remains resilient, with sustained user activity across a broad range of categories," the spokeswoman said. The Distilled group business last year recorded post tax profit of €4.32m after incurring a corporation tax charge of €3.23m. Directors' pay in 2024 totalled €405,067. The company's operating lease charges totalled €727,087. The profit last year takes account of non-cash amortisation costs of €6.09m and restructuring costs of €315,652. The group's shareholder funds totalled €73.56m and cash funds decreased from €11.38m to €10.77m.
Irish Independent
31-07-2025
- Automotive
- Irish Independent
Owner of Daft.ie expands with Northern Ireland classifieds deal
Distilled said the deals, for an undisclosed sum, would enable it to scale up its investments in product and technology, 'delivering enhanced value to users and customers across its platforms'. Emma Marley and Jordan Buchanan, CEOs of Used Cars NI and PropertyPal respectively, are to remain in post. Jordan Buchanan will continue in the role of PropertyPal CEO following its sale to Distilled Distilled, best known for and has become the Republic's best-known classifieds business, catering to millions of users. Used Cars NI was founded in 2006 and is the biggest online car marketplace in Northern Ireland, listing around 20,000 vehicles from dealers and private sellers. PropertyPal was founded in 2007 and is the top property portal in Northern Ireland, and owner of both and Used Cars NI, PropertyPal and Propertynews will continue to operate as separate brands in the Northern Ireland market. Emma Marley (left) will remain as CEO of Used Cars NI, while Cecil Hetherington will chair a new board Cecil Hetherington, chair of Used Cars NI and PropertyPal, said: 'We are delighted to partner with Distilled as we embark on the next stage of our growth journey. "Distilled have a deep understanding of online marketplaces and we share with them a passion for delivering the best possible experience to property and motoring buyers in our respective markets, as well as providing a rich suite of services to property professionals and motor dealers.' A new NI board will be chaired by Mr Hetherington. Eamonn Fallon, founder and CEO of Distilled, added: 'We have long admired the Used Cars NI and PropertyPal businesses and are excited to partner with them in their next phase of growth. "I'm really impressed with the people in Used Cars NI and PropertyPal, and the quality of the products and solutions they have built for their customers.' was founded in 1997, while launched in 2005, with launched shortly after in 2006. In 2015, the three brands came together under a joint venture formed by the merger of Schibsted Classifieds Media, parent company of with Distilled Media Group, the parent company of and In 2024, Blacksheep Fund Management Ltd., an investment manager based in Dublin, Ireland, became a significant shareholder in Distilled.
Yahoo
31-07-2025
- Business
- Yahoo
NI house sales website PropertyPal bought by Dublin firm
PropertyPal, Northern Ireland's main house sales website, has been bought by a company which operates a similar business in the Republic of Ireland. The new owner is Dublin-based Distilled which operates the house sales and rentals website. Distilled's other brands include the DoneDeal online car marketplace. Last year, PropertyPal merged with rival site Propertynews, although the two continue to operate as separate brands. That deal came after the entrepreneur Cecil Hetherington bought into PropertyPal. Mr Hetherington is the founder of Used Cars NI which is also being bought by Distilled. In 2023, Distilled made a pre-tax profit of €12.2million (£10.6m) on turnover of €41.4m. Emma Marley will continue in her role as CEO of Used Cars NI. Likewise, Jordan Buchanan will continue in his role as CEO of PropertyPal. The companies will be overseen by a new Northern Ireland Board to be chaired by Cecil Hetherington.
Belfast Telegraph
31-07-2025
- Automotive
- Belfast Telegraph
PropertyPal and Used Cars NI snapped up by Daft.ie parent company
Distilled said the deals, for an undisclosed sum, would enable it to scale up its investments in product and technology, 'delivering enhanced value to users and customers across its platforms'. Emma Marley and Jordan Buchanan, CEOs of Used Cars NI and PropertyPal respectively, are to remain in post. Distilled, best known for and has become the Republic's best-known classifieds business, catering to millions of users. Used Cars NI was founded in 2006 and is the biggest online car marketplace in Northern Ireland, listing around 20,000 vehicles from dealers and private sellers. PropertyPal was founded in 2007 and is the top property portal in Northern Ireland, and owner of both and Used Cars NI, PropertyPal and Propertynews will continue to operate as separate brands in the Northern Ireland market. Cecil Hetherington, chair of Used Cars NI and PropertyPal, said: 'We are delighted to partner with Distilled as we embark on the next stage of our growth journey. "Distilled have a deep understanding of online marketplaces and we share with them a passion for delivering the best possible experience to property and motoring buyers in our respective markets, as well as providing a rich suite of services to property professionals and motor dealers.' A new NI board will be chaired by Mr Hetherington. Eamonn Fallon, founder and CEO of Distilled, added: 'We have long admired the Used Cars NI and PropertyPal businesses and are excited to partner with them in their next phase of growth. "I'm really impressed with the people in Used Cars NI and PropertyPal, and the quality of the products and solutions they have built for their customers.' was founded in 1997, while launched in 2005, with launched shortly after in 2006. In 2015, the three brands came together under a joint venture formed by the merger of Schibsted Classifieds Media, parent company of with Distilled Media Group, the parent company of and In 2024, Blacksheep Fund Management Ltd., an investment manager based in Dublin, Ireland, became a significant shareholder in Distilled.
BBC News
31-07-2025
- Business
- BBC News
PropertyPal: NI house sales website bought by Dublin firm
PropertyPal, Northern Ireland's main house sales website, has been bought by a company which operates a similar business in the Republic of new owner is Dublin-based Distilled which operates the house sales and rentals other brands include the DoneDeal online car year, PropertyPal merged with rival site Propertynews, although the two continue to operate as separate brands. That deal came after the entrepreneur Cecil Hetherington bought into Hetherington is the founder of Used Cars NI which is also being bought by 2023, Distilled made a pre-tax profit of €12.2million (£10.6m) on turnover of € Marley will continue in her role as CEO of Used Cars NI. Likewise, Jordan Buchanan will continue in his role as CEO of companies will be overseen by a new Northern Ireland Board to be chaired by Cecil Hetherington.
