Revenues at the private ambulance service operated by well known mortgage campaigner David Hall are set to increase by 9% this year to €14m.
That is according to CEO David Hall who was commenting on new accounts showing that post tax profits at Life Line Ambulance Service Ltd last year increased almost five fold to €793,031.
New accounts show that the post tax profits of €793,031 at Lifeline Ambulance Service Ltd in the 12 months to the end of June last followed post tax profits of €163,880 in the prior year.
The profits resulted in accumulated profits increasing to €3.46m last year. Cash funds increased from €702,422 to €1.3m.
Commenting on the performance, Mr Hall said: "The company delivered an exceptionally strong performance during the financial year and further cemented its position as the leading private ambulance operator in Ireland".
"Lifeline continues to outperform competitors operationally, clinically and commercially. We have invested heavily over a long period and the results are now very visible," he said.
"Quite simply, nobody in the sector is operating at the scale, efficiency or quality level that Lifeline is currently delivering," he added.
On the revenue performance last year, Mr Hall said: "Revenues increased strongly year-on-year as demand for Life Line's services continued to grow nationally. In 2024 turnover was €11.189m and in 2025 that increased to €12.845m reflecting the fact that we completed 37,000 patient transfers nationally".
"For 2026 we are projecting turnover of €14m," he stated.
The profits last year take account of non-cash depreciation costs of €1.345m and interest costs of €162,990.
Numbers employed remained at 191.
"The company has experienced sustained expansion for several consecutive years and the latest accounts reflect the continued strengthening of the business across all areas of operations - ambulance transport, pre-hospital education through our training school, and exclusive provision of organ transplant logistics and transport," Mr Hall said.
"The increase in profits is really the result of years of significant investment, operational focus and building scale nationally," he said.
"We made, and continue to make, major investments in fleet, systems, infrastructure and staffing and the business is now benefiting from those investments," he stated.
"Lifeline has become a very substantial national healthcare logistics operation and once you build scale properly and run it efficiently, the financial performance follows," he added.
On the current year, Mr Hall said: "The current year has started extremely strongly and the company continues to perform ahead of expectations."
"Demand remains very robust and we expect another year of growth in both revenues and profitability. The business has very significant forward momentum at present and we are extremely confident about the future direction of the company," he said.
He said that the HSE remains Life Line's principal client and the working relationship with hospitals and healthcare teams nationwide continues to be very strong.
He said that Life Line now deploys an average of 45 ambulances daily on HSE-related operations.
"We are also the exclusive national provider for organ transplant services. Many hospitals rely on Life Line because we deliver consistently, professionally and at a scale and quality that nobody else in the sector can match," he said.
Pay to directors last year increased from €723,157 to €899,842 made up of remuneration of €465,965, pension contributions of €270,796 and €163,081 to third parties for the service of directors that did not occur in the prior year.
Reporting by Gordon Deegan
