The property firm owned by Minister of State Michael Healy-Rae has seen significant financial growth, with accumulated profits exceeding €1 million in 2025, according to recently filed accounts. This increase in profitability for Roughty Properties Limited comes as the company continues to be linked to properties used to accommodate Ukrainian refugees, adding another layer to the ongoing discussion surrounding housing and government contracts in Ireland. Understanding the financial performance of companies involved in these arrangements is crucial as Ireland continues to navigate the challenges of providing accommodation and support.
Roughty Properties Limited, established in May 2022, is wholly owned by Healy-Rae, with his son, Kevin, 27, serving as a director. The company’s financial performance has steadily risen since its inception. The accounts filed with the Companies Office reveal a climb of €241,244 in accumulated profits, bringing the total to just over €1 million for the 12 months ending in May 2025. The firm also reported cash and current assets totaling €461,042 during that period. This growth reflects a broader trend of increased activity within Healy-Rae’s diverse business interests.
A Broad Portfolio of Holdings
Healy-Rae’s business ventures extend far beyond property management. Often described as the largest landlord in Dáil Éireann, his latest declaration of interests lists a substantial portfolio of 28 properties, encompassing guesthouses, student accommodation, and rental homes. Beyond real estate, Healy-Rae also lists occupations as a postmaster, politician, farmer, service-station owner, and owner of a plant-hire business, and is a director of four companies. This diverse range of interests highlights the scale of his economic activity within County Kerry and beyond.
The financial success of Roughty Properties isn’t occurring in a vacuum. In 2022, Kerry County Council denied planning permission for a three-story extension to Rosemont Guesthouse, a property owned by Roughty Properties Limited, which would have significantly increased its capacity. This decision underscores the complexities of balancing development with local planning regulations, even for prominent figures like Minister Healy-Rae.
Growth in Assets and Contracts
The value of fixed assets at Roughty Properties Limited more than tripled during the last financial year, reaching €669,617. Yet, cash and current assets saw a decrease of €257,004, settling at €416,042. This shift suggests a reinvestment of funds into fixed assets, potentially indicating expansion or improvements to existing properties.
The company’s financial history shows consistent growth. Roughty Properties Limited reported post-tax profits of €465,860 in its first year of operation, followed by €376,048 in the subsequent 12 months ending in May 2024. This trajectory demonstrates a pattern of increasing profitability, culminating in the recent milestone of exceeding €1 million in accumulated profits.
A significant portion of the company’s revenue is linked to contracts with the Department of Children, Equality, Disability, Integration and Youth. Rosemont Guesthouse, owned by Healy-Rae through Roughty Properties Limited, received €1.22 million from the department over a 27-month period ending in December 2024. His declaration of interests confirms that Roughty Properties Limited held contracts with the department for the accommodation of Ukrainians in 2025, alongside contracts with Kerry County Council for the Rental Accommodation Scheme (RAS). These contracts highlight the role of private providers in addressing the housing needs of vulnerable populations.
Beyond these specific contracts, Healy-Rae’s broader portfolio includes parcels of forestry, farmland, retail property, and Bed & Breakfasts, as detailed in his declaration of interests. He also holds shares in the New York Times, demonstrating a diverse investment strategy.
The financial success of Roughty Properties Limited and Minister Healy-Rae’s extensive business interests raise questions about transparency and potential conflicts of interest, particularly given his role in government. While his business activities are publicly declared, scrutiny of these arrangements is ongoing as Ireland grapples with housing shortages and the integration of refugees.
The next financial filings for Roughty Properties Limited, expected in late 2026, will provide further insight into the company’s performance and the impact of ongoing government contracts. Readers can find more information on the Companies Office website and through official declarations of interests published by the Dáil.
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