Eamon and Brian Fallon, founders of Daft.ie, shared a major part of a €4.45 million dividend last year, according to accounts filed to the Companies Office by Distilled Media Group.
The two brothers shared the windfall with other shareholders in the Distilled Media Group Ltd, which operates the Daft.ieand Thejournal.iewebsites. They own a majority stake in the business.
The payout follows a dividend of €2.9 million in 2010. Pretax profits at the group last year slipped by 6 per cent from €1.84 million to €1.72 million, despite revenues increasing by 14 per cent from €6.58 million to €7.51 million in 2011.
As part of a group restructuring last year, Distilled Media Group Ltd acquired Daft Media and the Daft Media's shares in Boards.ieand Adverts Marketplace. The deal valued Daft Media and the shareholdings in the two firms at €27.8 million.
The accounts show that the numbers employed by the company last year increased from 42 to 53. Staff costs last year increased from €2.4 million to €3.1 million.
