FINANCE ONE, the finance intermediary that includes the National Asset Management Agency among its clients, made a profit after tax and dividends of €92,262 in the year to the end of March.
The company’s abridged financial statements, filed recently, show it made a corresponding profit of €23,572 the year before. Finance One, which is owned by Conor Sheeran and Harry Slowey, had shareholders’ funds at year’s end of €1.33 million, up from €1.24 million the previous year. No dividend figure was given.
Finance One is on a panel for the provision of advisory services to Nama for the review and evaluation of borrowers’ business plans.
Earlier this year developers Ray and Danny Grehan opposed Nama’s effort to have Mr Slowey appointed as non-executive chairman of the brothers’ company, Glenkerrin. The accounts show Mr Slowey and Mr Sheeran had loans to the company totalling €614,964 at year’s end, up from €534,320 at the outset of the year. During the year the company increased its investment in an unidentified project by buying Mr Slowey’s interest for €125,000. The accounts show the company’s debt to Mr Slowey increased by this amount.
Mr Sheeran is a former director of Aon Consulting who held the position of branch manager with Irish Permanent for 12 years. Mr Slowey was a director of Bank of Scotland (Ireland) for 13 years, has held senior positions with GPA Group and KPMG.
