This article is from page 13 of the 2008-09-02 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 13 JPG
THE nursing home operator headed up by Shannon Airport Authority Chairman Pat Shanahan increased the size of its business by almost one third and returned to profit last year.
According to recent returns to the Companies Office, Mowlam Health- care increased its turnover from €14.2 million to €18 million.
The country’s largest nursing home operator — which is to open a new nursing home and retirement village in Ennis and Kilrush shortly — re- turned a pre-tax profit of €680,000 .
This followed losses of €387,000 in 2006 and €335,462 in 2005. Last year’s profit allowed the company re- duce accumulated losses from €1.29 million to €678,000.
Mowlaw Healthcare operates 12 nursing homes providing long-term, convalescent and respite care for the elderly throughout Ireland. The new retirement villages in Kilrush and Ennis are set to create 100 new jobs.
During 2006, Mr Shanahan in- creased his shareholding in Mowlam from 22.5 per cent to 33.3 per cent and last year he resigned his post as executive chairman of the Shannon Airport Authority.
This was in protest over the fail- ure of the Dublin Airport Authority (DAA) to inform him and the SAA
of Aer Lingus plans to end the Shan- non-Heathrow route.
Two years ago, Mowlam Health- care secured €100 million funding to increase the number of homes in its ownership to 20, with more than 1,000 beds in total.
In 2005, the company employed 430 and this increased to 525 last year with staff costs amounting to €10.6 million. Directors’ aggregate emolu- ments were last year £100,000.
Pairc na Coille retirement village is located in Drumbiggle, Ennis and has 27 houses, 35 apartments and a 60 bed nursing home. Riverwood re- tirement village, located in Kilrush consists of 15 houses, 16 apartments and a 46 bed nursing home.
Mr Shanahan, who formerly worked as Vice President of the US owned Tellabs in the Shannon Free Zone said, “We are really proud of the standard of all our homes and re- tirement villages, and Riverwood is no exception.
“It is located in beautifully land- scaped grounds, designed with the residents’ enjoyment, security, and CLOyenieneu lose Ceromm un mpeenenlen
“We are committed to enhancing the quality of life for all our resi- dents, and deliver high-quality care which is focused on those who live in Riverwood and in our other homes throughout the country.”