Oireachtas Joint and Select Committees

Tuesday, 24 March 2015

Joint Oireachtas Committee on Agriculture, Food and the Marine

Annual Report 2013: Bord Iascaigh Mhara

2:00 pm

Mr. Connie Kelleher:

Deputy Pringle asked about the accounts deficit. The deficit in 2013 was approximately €500,000. However, in comparison with 2012, we were down by about €1.6 million in grant aid. In other words, our grant aid revenue was down. As my colleagues have been saying, we none the less continued our investment in capital and current expenditure as far as the system would allow us. We ran a deficit, but we brought in an opening surplus and ended with a smaller closing surplus.

Every penny of the grant aid we had, and more, was used for the benefit of people at a current level and a capital level. In 2013 we had some additional fixed-asset expenditure which we did not have in the previous year. The figure of €217,000 is listed, as distinct from approximately €30,000 in the previous year. That all plays into it. There were reduced revenues and increased spending.

I was asked about ice plants. We had a loss in that year of approximately €58,000. That was basically because we had more or less fixed costs but reduced revenues. The revenues for that year were down by €66,000 on the previous year. I will update the committee on what has transpired since that time. The revenues have increased. We have trimmed the costs further and we now have profits. From recollection, one year later it was up to €90,000 and it was approximately €65,000 after that. I will confirm the exact amounts to the committee afterwards. We have gone into a profitable state. The reason for some of the increased expenditure is that a lot of our ice plants are quite old and they need a lot of expenditure. We are currently preparing a business plan and looking at the future of the ice plants because they need serious re-investment. I hope that answers the Deputy.