The firm which operates leading comparison and switching website bonkers.ie last year rebounded to record pre-tax profits of €1.79m as revenues surged.
New accounts filed by Bonkers Money Ltd show that the company recorded a pre-tax profit of €1.79m after sustaining a pre-tax loss of €169,200 in 2023 - a positive swing of €1.96m.
The firm returned to profit as revenues surged by 62% from €3.87m to €6.27m.
The directors state that "the financial performance of the company rebounded as expected following the recovery in the energy and mortgages sectors from the turbulence caused in prior years during the beginning of the cost of living crisis".
The Bonkers website lets consumers compare the cost of electricity and gas plans from various providers, as well as the cost of borrowing for mortgages and personal loans. They can also compare the cost of insurance, broadband and general banking.
The accounts show that the firm last year paid out dividends totalling €1.13m to parent firm, Bonkers Money Holdings DAC, which in turn paid out a dividend of €1m.
Co-founder and group ceo David Kerr has the largest share in the business at 45.65% with Alan Kerr owning just over 31% of shares while Simon Moynihan owns just under 23% of the share capital.
The directors state that "the company has maximised turnover consistently since incorporation and future developments include continuing to pursue our multi-vertical product strategy with the further expansion of the business with its current product verticals, deeper execution of customer orders through direct brokerage within the group".
They further state that the company "has undergone a review of its operations with regard to reducing its cost-base and delivering higher shareholder value and has made significant reductions in overhead as a consequence, while maintaining a significant budget in research and development in our cloud platform and transaction engines, core components of the company's intellectual property asset inventory".
The directors state that they are satisfied with the metrics yielded by the company's largest aggregate investment in advertising which began late in 2024 and continued into 2025, specifically with its first advertising campaign to include advertising on television.
The accounts show that the spend on advertising last year increased by 72% from €488,279 to €839,323.
A detailed breakdown of revenues show that the largest growth area last year was sales from "Gas, Electricity and Home Energy" increasing almost three fold from €991,649 to €2.88m while the other largest area of income was Insurance with sales increasing from €2.02m to €2.3m.
Numbers employed decreased by one to 39 as staff costs increased from €2.56m to €3.06m.
Directors' remuneration for four directors more than doubled from €423,321 to €862,155 made up of €794,955 in emoluments and €67,200 in pension contributions.
Shareholder funds totalled €1.9m and cash funds tripled from €552,898 to €1.89m.
Reporting by Gordon Deegan
