The business consultancy firm operated by two-time presidential candidate Seán Gallagher avoided any Covid-19 hit on revenues to enjoy a record year.
According to accounts filed by Seán Gallagher Business Matters Ltd, the company recorded post-tax profits of €103,722 in 2020. The accounts said there had been no reduction in trading levels as a result of Covid-19 given the nature of the trade of the company.
The profit figure is an eightfold increase on the €12,324 the business recorded in 2019. At the end of the year, the company was sitting on accumulated profits of €261,085.
Along with providing training and consultancy, the company’s other principal activity is that of venture capital investment.
Mr Gallagher’s wife, Trish, also sits on the company board and aggregate directors’ pay for the two of them increased sharply in 2020 to €158,295 from €98,108.
The business, which operates from Kilmacanogue, Co Wicklow, saw its cash funds more than triple last year from €30,306 to €99,257.
The company’s financial assets increased in value from €165,030 to €225,030 during the year.
Mr Gallagher was a front runner for much of the 2011 presidential campaign and eventually lost out to President Michael D Higgins.
In 2017 at the High Court, the 59 year old received "substantial" damages and an apology from RTÉ under a settlement of his legal action against the broadcaster arising from the "Tweetgate" incident during the 2011 presidential election campaign.
The former dragon on RTÉ’s Dragons’ Den also contested the 2018 presidential election and had the third-highest share of the vote. President Higgins topped the poll.
