Alanis, part of the Pizarro Developments consortium whose plans for a 2.2bn town centre in Bray were rejected by An Bord Pleanala last month, made a profit of 835,031, compared to 389,430 in 2004.

Pizarro was involved in a six-month battle last year over its plans against rival developers Sean Mulryan and Liam Carroll, who were both promoting rival schemes nearby.

The consortium received planning permission from Bray town council and Dun Laoghaire-Rathdown county council, but Mulryan and Carroll appealed it to An Bord Pleanala. The developers won the appeal last month, weeks before Mulryan's Ballymore Properties won approval for its Florentine Centre development in Bray.

The amount of consultancy fee income due to the firm also rose significantly from 329,145 in 2004 to 1.37m. But the firm's future VAT liability also increased dramatically from 53,000 to 1.05m.

The accounts also show that Alanis was charged 2m by Sinala, another company controlled by the McCormacks, for consultancy services.