Two directors at property group DwyerNolan Developments last year shared pay of €10.2 million, new filings show.
Accounts for the south Dublin construction group show that the two directors shared the bumper payout as pretax profits at Dwyer Nolan Developments Ltd increased more than 10 fold to €42.4 million.
Consolidated accounts filed by the company show that the group’s pretax profit increased from €4.04 million to €42.4 million as revenues increased from €38.6 million to €241.3 million.
Edward and Ann O’Dwyer are the joint owners of the business.
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DwyerNolan was established in 1971 and has developed and directly constructed more than 9,500 residential units in Dublin and surrounding counties.
[ Developer Dwyer Nolan tees up 130-unit Santry scheme for another pre-build saleOpens in new window ]
Directors’ pay of €10.2 million for last year compared with remuneration of €232,000 for 2024. No dividends were paid in respect of last year.
The company employs 20 people, with salary costs, including directors’ pay, last year totalling €12.8 million compared to €1.96 million in 2024.
Six members of the O’Dwyer family are on the board with Edwin O’Dwyer, William O’Dwyer, Keith O’Dwyer and Aidan O’Dwyer, sitting alongside the joint owners.
In their report, the directors state that “the result for the year and the financial position at the year-end were considered satisfactory”.
The directors state that the group continues to focus on the delivery of high-quality, large-scale apartment developments.
The directors’ report for 2024 had flagged the 2025 upsurge in profits and revenues when they stated that sales of developments agreed in 2023 were to be delivered in 2025.
The property group recorded a post-tax profit of €36.8 million after incurring a corporation tax charge of €5.6 million.
At the end of December, the group was sitting on accumulated profits of €216.3 million. Cash funds increased from €12 million to €85.3 million.
