*Brian Crowley.
ENNIS businessman, Brian Crowley this year shared in a €8m dividend payout with other shareholders in his TTM healthcare recruitment group as pre-tax profits last year increased by 32 percent to €11.55m.
New consolidated accounts filed by the Ennis headquartered TTM Healthcare Ltd show that the company’s pre-tax profits increased to €11.55m as revenues rose by 11 percent from €116.88m to €130.36m in 2023.
The directors confirm that in a post balance sheet event on January 24th this year, the company directors approved a €8m dividend to be paid to shareholders, Mr Crowley’s TTM Holdings Ltd along with Annecy Lake Holdings Ltd and Annapam Ltd.
The group operates in Ireland, South Africa, the Middle East, UK and Northern Ireland. The group has subsidiary operations in the UK, Poland, Germany and India.
The business is led by former Irish boxing international, Brian Crowley and the directors state that sales increased by 12 percent as a result of many strategic initiatives during the financial year.
Mr Crowley is also a former EY Entrepreneur of the Year finalist and the directors state that operating profits increased by 35 percent from €9m to €12.12m “as a direct result of both organic and prior year acquisitive growth and significant investment in people, service development and capital over the last three years to enable sustainable growth across our group”.
The company recorded pre-tax profits of €11.55m after paying out interest payments of €571,925.
The group recorded post tax profits of €9.78m after incurring a corporation tax charge of €1.77m.
Numbers employed by the recruitment firm last year increased from 1,878 to 2,101 as staff costs increased from €88.04m to €96.75m. The 2,101 were made up of 1,882 locum and healthcare workers and administration workers of 219.
On the company’s future developments, the directors state that the group continues its ambition to grow operations.
The group’s shareholder funds last year totalled €39.18m that included accumulated profits of €37.7m. Cash funds increased sharply from €12.32m to €19.18m.
The operating profit also takes account of combined non-cash depreciation and amortisation costs of €2.25m.
Profits were also boosted by a €225,455 gain from an unspecified insurance claim.
Directors’ pay totalled €182,794.
Separate consolidated accounts filed by Mr Crowley’s Brian Crowley Holdings Ltd, which include TTM Healthcare revenues, show that revenues totalled €142.39m for 2023. The revenues include the revenues of Odyssey Social Care which provides quality residential care to young people in partnership with TUSLA.
