SHANNON Airport made a profit of €2.7 million in 2019, newly filed accounts show. Turnover for 2019 was €46 million, down from €48.1 million in 2018. According to the accounts, Shannon Airport Authority spent €14.1 million on wages and salaries for its 243 workers in 2019. The average per employee was just over €58,000, but there are now proposals for swingeing pay cuts among the staff, due to the Covid-19 slowdown. The directors’ report warned that a very difficult period lies ahead. “Industry analysts cite that once the situation resolves that passenger numbers will follow the same trajectory as in the wake of previous disruptions, such as 9/11 or the global financial crisis-after months of disarray, travel patterns reverted to normal and growth resumed. A caveat here is that no analyst can predict the timing of the current crisis. If this were to resolve in the short term and the impact of Covid-19 abates within months, it will be important …
Read More »Criminals targetting Netflix accounts
An Garda Síochána at the Garda National Economic Crime Bureau have become aware of a ‘fraud’ where criminals are trying to obtain the personal banking or credit details of people under the guise of a request to update personal Netflix accounts with banking and/or credit card details. Gardai say this is a fake email and any financial information disclosed will be used to commit fraud offences, including account take over, where bank accounts are taken over and all funds withdrawn. Detective Chief Superintendent Lordan of the Garda National Economic Crime Bureau is warning the public to never reveal their personal banking or credit card details in response to unsolicited emails, text messages, SMS messages or phone calls. “Where a person is concerned at contact from what appears to be a genuine entity such as Netflix or their Bank, they should look up that entity independently and make contact to check if this contact is genuine,” he says. Detective Chief Superintendent …
Read More »Trump’s €6m Doonbeg wage bill
OVER €6 million was spent on staff costs at Trump International last year, while it employed an average of 213 people. While President Trump is very unpopular in Ireland, the Doonbeg business is now perhaps the most significant employer in West Clare, a region which has suffered from major economic disadvantage for many years. Today, West Clare is almost totally devoid of large industry, with Government agencies having no track record of bringing foreign direct investment to the region. However the recently filed accounts show that Trump International was employing an average of 213 people during the 12 months of 2017. It is understood that this number rises to around 300 during the summer. The accounts show that wages and salaries for the year came to €5,435,373, up from €4,719,000 in 2016. Social welfare costs were €576,146 for the year, up from €542,238 in 2016, giving total staff cost of €6,011,519. Although it was loss making in 2017, the Directors …
Read More »‘Positive’ outlook at Shannon’s Atlantic Aviation
IN examinership a few years ago, new accounts filed for Atlantic Aviation show it had a very successful 2016. The director’s report for the year states, “Since its successful exit from an examinership process in April 2015, the directors have focused on stabilising the business by growing the revenue line, improving efficiencies and reducing the cost base and continue to do so throughout 2017. “The directors are satisfied with the profitable results for the year and the outlook is positive. A number of managerial changes have taken place and the team has been strengthened in operations, marketing and HR to provide a platform for ongoing profitable growth. The company continues to produce highly-skilled staff through its in-house training academy.” The company claims that retaining its staff is very important. “A key driver in the business is the retention of staff and the directors/management are endeavouring to make Atlantic Aviation Group a better place to work in the long-term. “A ‘focus …
Read More »New governance structure to secure future of Bridge Complex
Plans are being made to set up a new governance structure to help secure the future of Sixmilebridge and District Community Complex, following a public meeting in the village earlier this week. A recent Clare Champion investigation revealed that the Registry of Friendly Societies (RFS) cancelled the centre’s registration on April 17, 2015 over its failure to submit annual audited accounts to the registrar. It also found that November 21, 2007 was the last time that annual audited accounts were lodged with the RFS for the year ending December 31, 2006. It has been decided that local resident Pat Hayes will operate as an independent facilitator to seek legal and accountancy professional advice, and to put this information to a group of special members, shareholders and members of the Bridge Kids interim management. Mr Hayes, who is a parent of children attending the crèche, said he would be prepared to link-in with the present interim board of management to form …
Read More »Bridge Complex governance under scrutiny
THE Sixmilebridge and District Community Complex is facing an uncertain future following the revelation that the complex has not submitted audited accounts in compliance with regulations for 10 years. Growing dissatisfaction with the lack of proper governance of the centre has prompted calls for an extraordinary general meeting to facilitate the necessary changes to ensure its future survival. A Clare Champion investigation has revealed that the Registry of Friendly Societies (RFS) cancelled the centre’s registration on April 17, 2015 over its failure to submit annual audited accounts to the registrar. It also found that November 21, 2007 was the last time that annual audited accounts were lodged with the RFS for the year ending December 31, 2006. The Bridge Complex is the umbrella organisation for one of the biggest not-for-profit organisations in the county. Its childcare facility employs 30 people and looks after about 100 children five days a week. It also runs a daycare centre and a playground, which …
Read More »Roche’s €27.5m on wages and pensions
WAGES, salaries, social insurance and pensions cost Roche €27.5 million last year, it emerged this week. According to company accounts filed for the financial year ended December 31, 2015, Roche Ireland Limited spent €20.7m on wages and salaries; €2.2m on social insurance; €3.5m on defined benefit pension service costs and €977,000 on other benefits. The total figure is up from €24.8m a year earlier. It has also emerged that a majority of employees have taken a generous redundancy package of six weeks wages from the company, plus two weeks statutory redundancy, depending on years of service as part of their exit compensation. All of this is capped at a maximum of 2.5 years wages. A small number of employees, believed to be in the region of 10%, have secured jobs in other pharmaceutical companies. SIPTU industrial organiser Paul dePuis believes all the redundancies will be on a voluntary basis. However, if the company does not secure the number of voluntary …
Read More »Shannon Knights enters receivership
Established in 1972, the Shannon Knights, the iconic bar and bistro and one of the most prominent social venues in the town, has entered receivership. A member of management said employees are, as yet, unaffected and that the outgoing owners had been good to work for and are well regarded in the community. Shannon Knights embarked on a multi-million euro revamp some years ago and when it reopened in 2010, there was talk of expanding its clientele to Ennis and Limerick, but economic conditions proved very challenging thereafter. Annual accounts filed in 2015 and prepared by Curtin, O’Friel & Co Chartered Certified Accountants, showed that in the year to the end of August 2014, Shannon Knights had accumulated losses of €1,745,549. The accounts also showed that there were bank loans of over €3.4 million to be repaid. At the time there was uncertainty about the ability of the company to continue, as the submission stated there was “uncertainty which may cast …
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