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No clarity around future of construction firm

THERE is little clarity about the future of Kilmihil construction company Keating this week.

While contact was made on Tuesday, the company had not come back with a comment at the time of going to press.

Keating were working on the new library in Ennis, adjacent to Glór, but activity had all but ceased there on Wednesday. The few remaining workers at the site were reluctant to speak about the situation.

On Tuesday Clare County Council were asked if Keating were still working on the project, or if it had stopped. However, they declined to answer directly, saying the query should go to the company.

The most recent set of accounts for L&M Keating cover 2018 and were filed late last year. They show that Louis and Cathy Keating had transferred a combined total of 387,502 shares to All Waves Holdings Limited on January 11, 2018. Louis Keating resigned as a director on July 1, 2019.

The accounts showed the company had a successful year and there was confidence expressed about the future. “The company’s financial performance continues to strengthen with turnover for 2018 up 3.4% and a significant improvement in operating profit to €5.2 million (2017: €4.8 million). While margins remain competitive, with the ongoing strengthening of the Irish economy the company is well positioned to maintain and grow its turnover and profitability levels in 2019. The company plans to diversify its operations further geographically in the immediate future in order to leverage its specialist knowledge and mitigate risk.”

It had employed 103 people on average throughout the year, while directors’ remuneration had been €528,687.

Councillor Cillian Murphy said the company has been one of the most significant companies in the area.”It is one of the bigger employers in West Clare and it’s a signature employer that does work all over Ireland and all over Europe. In its own right it is kind of an ambassador for West Clare, that a business of this scale and quality can be built up out of West Clare.”

Owen Ryan

About Owen Ryan

Owen Ryan has been a journalist with the Clare Champion since 2007, having previously worked for a number of other regional titles in Limerick, Galway and Cork.

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