A joint venture company between Aer Rianta and Dunloe Ewart, that owns the Horizon Business Park in north Co Dublin, has reported profits of €6.2 million in the year to end December 2002.
MonAer (Cork) fortunes were boosted last year by the sale of a site to Dublin Bus for €11.4 million. MonAer (Cork) is a wholly owned subsidiary of Turckton Developments, the firm jointly owned by Dunloe Ewart and Aer Rianta. It also generated rental income of €930,290 compared to €161,587 in the previous year.
Company directors are Mr Noel Carroll, the major shareholder in Dunloe Ewart, and Mr Tim Kenny, a director of the property company. Aer Rianta is represented on the board by deputy chief executive Ms Margaret Sweeney and Mr Michael Murphy.
Mr Noel Smyth, former Dunloe Ewart executive chairman, was removed from the board in July 2003. Mr Smyth lost control of the firm after a takeover battle. The victor, Mr Carroll, then replaced him as a director.
During 2002 Mr Smyth's legal firm provided legal services to MonAer (Cork) during the year totalling €110,684. In the previous year the firm was paid €113,034.
