Post-tax profits at the private ambulance service owned by mortgage campaigner David Hall last year increased by 60 per cent to €977,700.
New accounts filed by Mr Hall’s Lifeline Ambulance Service Ltd show post-tax profits of €977,700 in the 12 months to the end of June 30th 2023, compared to €609,505 in the prior year.
Commenting on the company’s performance, chief executive Hall stated that revenues increased by 10 per cent to €11 million last year.
Hall said: “The company has performed very well in the year up to July 2023. I purchased 20 new ambulances recently and three new organ transplant vehicles.”
On the sharp increase in profits last year, Mr Hall stated: “There was an increase in the need for our services at various times during the year. Healthcare is very busy presently.
“Last year we transported 24,000 patients and travelled 4 million kms. We also provide the coordination and transport for all organ transplants in Ireland.”
Mr Hall said the HSE remains the company’s biggest client. He added, however, that the HSE “has changed the structure of hiring private ambulance companies this year and this will have a negative impact on activity and revenue I expect as the HSE prioritises cost savings”.
He said the business currently employs 185 staff.
The directors are listed as David Hall, Susan Wiseman and former Director General of the HSE, Tony O’Brien. Asked on the role of Mr O’Brien at the firm, Mr Hall said: "Tony provides strong strategic and governance oversight and chairs our senior management team meetings."
Directors' pay last year almost doubled to €843,197 due to a large hike in pension contributions.
Pay to directors was made up of remuneration of €365,965 and pension contributions of €477,232.
The remuneration was at the same level as 2022 while the pension contributions increased sharply from the €77,232 paid out in 2022.
