Property firm jointly owned by Ceann Comhairle Seán Barrett makes profit of more than €1.1 million

A property firm co-owned by Ceann Comhairle Seán Barrett reported accumulated profits of more than €1.1 million last year.

The Fine Gael TD for Dún Laoghaire is listed as a shareholder and director of Cabinteely Property Holdings Ltd. He currently owns a 15 per cent share in the company.

Businessman and horse racing tycoon John Magnier is listed as owing 20 per cent of the shares in the firm.

Accounts filed to the Companies Registration Office show the firm's cash pool rose to almost €2.3 million during the 12 months to May 31st, 2014.

It had previously stood at just €158,654.

Mr Barrett has been a director of the company since it was first incorporated in 2005.

It is one of five commercial directorships listed in his declaration of interests under the Ethics in Public Office Acts.

He is also a director of JAB Holdings Ltd, Barrett Private Insurances Ltd, Barrett Quigley Financial Ltd, and Sean Barrett Bloodstock Insurances Ltd, which recorded accumulated profits of €285,598 last year.