This article is from page 28 of the 2008-01-01 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 28 JPG
TWO major car dealerships with their headquarters in Ennis increased the size of their businesses in 2006.
According to the latest returns to the Companies Office, Tom Hogan (Gal- way) Ltd of Ballymaley increased its turnover from €87 million in 2005 to €103 million last year.
The figures represent the sales fig- ures for the Tom Hogan outlets in Ennis, Galway, Clonmel and Shan-
nto) eF
Separate returns to the Companies Office show that Ford dealer T Sheils & Co Ltd increased its turnover from €35 million to €36 million.
The Tom Hogan group of compa- nies are Toyota and Lexus dealers and sustained an operating loss of €393,000 due to €992,000 being written off a related party debtor.
The company remains in strong financial health with accumulated profits standing at €6.7 million and
shareholders funds standing at €14.2 million.
The figures show that the company employed 153 people and had a wage bill of €6 million.
The two directors in the company are Paul and David Hogan. Accord- ing to a statement accompanying the accounts, “the directors anticipate an improved level of performance in 2006/2007”.
It continues: “The principal risk to the group is to lose market share
and as a result miss an opportunity to achieve planned sales growth with its knock-on effect on net income.
“The ongoing challenge for the group 1s maintaining sales and gross margin and controlling overheads and required capital expenditure. The strategy of the group is to con- tinue to differentiate its products on the basis of quality, service, range and availability.”
The accounts show that T Sheils and Co enjoyed a profit before tax in
2006 of €195,000. The directors are listed as Thomas Sheils and Mary- Ann Sheils.
The company had accumulated profits of €1.17 million and the fig- ures show that the company em- ployed 88 people and had a wage bill last year of €1.9 million.
According to a statement accom- panying the accounts, the directors “are satisfied with financial perform- ance for the period and anticipate improvement in future years”.