Pat McCann, chief executive of Dalata, the listed hotel group, has spent almost €208,000 buying shares in the company. McCann bought 40,000 shares last week for €5.19 each, according to stock exchange filings. He owned almost 915,000 Dalata shares at the end of last year, worth more than €4.7m at current prices. Dalata, which owns the Clayton and Maldron hotel chains, made €44.1m pre-tax profit last year as revenues rose by 29% to €290.6m.
New contract for Malin boss
Kelly Martin, chief executive of Malin, the life sciences investment company, is to receive the vast bulk of his salary in shares. Under a new contract, Martin will receive a cash salary of $75,000 (€66,480), a director’s fee of €20,000 and the issue of 150,000 shares annually. Malin shares traded at €12.54 on Friday. Martin was paid more than €3m last year, the bulk in equity-based compensation. The former chairman John Given was paid €3.6m.
College’s coffers grow
Griffith College, the private third-level college founded by accountant Diarmuid Hegarty, doubled its profits to €1.6m after tax in the financial year to the end of June 2016. Turnover at the college increased by 12% to €23m. Staff numbers increased to more than 400 during the year, of which 282 were teaching staff, and the wage bill grew to €13.4m from €12m the previous year. New accounts show Hegarty increased his stake in the business by investing €2.1m during the year. Following a €10.4m write-down in the value of the company’s properties in 2015, the company sold property valued at €5.2m in the past financial year.
Carr on the right track
Public relations firm Carr Communications made profits of €91,000 in the year to June 2016, after its five directors shared remuneration of €478,000.
The company, founded by broadcaster Bunny Carr in the 1970s, is controlled by chairman Fergus Hoban, managing director Tony Hughes, and Donal Cronin, a special adviser to former taoiseach Albert Reynolds.
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The team has owned the firm since the departure of former managing director Terry Prone in 2008.
Ecoburner turns up the heat with €2.1m equity boost
Ecoburner, a Waterford firm, which makes burners for chafing dishes or bain-maries, has received a €2.1m equity boost. Existing shareholders, including Australian company Hubble Enterprises and convenience store entrepreneur Terence Mangan, contributed to the funding.