The booming commercial property market in Dublin last year contributed to operating profits at Savills Commercial Ireland increasing more than nine fold to €5.44m.
The soaring operating profits at Savills Commercial Ireland Ltd followed revenues almost doubling from €19.9m to €36.44m.
The bumper year for the company allowed the firm to pay out a dividend of €14.5m.
The directors said that "the company experienced strong trading recovery in 2021 despite the ongoing pandemic related disruptions particularly in the first six months of the year"
They said that revenues increased by 83pc "on foot of the market recovery and a number of significant business wins".
In an upbeat report, the directors said "most service lines experienced a significant uplift in activity during the year with some parts of the market seeing more robust transactional volumes than in 2019".
They said that the revenues pipelines going into 2022 "were robust and the company started the year in line with expectations".
They said that subject to key uncertainties including global economic headwinds and the effects of the Ukrainian crisis, the directors expect real estate transaction volumes to be broadly in line in 2022 with pre-pandemic levels and the outlook for the current year is positive.
The firm recorded almost a 14 fold increase in pre-tax profit to €8.27m that was even higher than the increase the operating profits due to an exceptional gain of €2.83m.
The exceptional gain arises from the firm during 2021 receiving a settlement towards a historic balance outstanding from a group company.
They said that this resulted in Savills Commercial (Ireland) writing back a past provision that was originally provided for in 2010 and 2009.
Numbers employed at the business last year increased by 29 from 219 to 248 as staff costs almost doubled from €14.5m to €27.12m
The staff costs include wages of €23m and share based payments of €209,900.
Pay to directors last year more than doubled from €734,000 to €1.59m comprising remuneration of €1.25m, long term incentive scheme benefits of €1919,662 and pension contributions of €149,333.
The firm last year recorded post tax profits of €7.63m after paying corporation tax of €647,237.
At the end of December last, the firm was sitting on accumulated profits of €13.32m. The company's cash funds increased from €13.42m to €14.36m.
