The group's holding company, Executive Trust, which is controlled by businessman Colm Menton and Hyundai Ireland, made a profit of 832,222 compared with 742,964 the previous year, despite an increase in salary costs of 335,911 during the year.

The accounts also reveal that the company owned 25.2m worth of vehicles at the end of the year and also placed 211,263 in investments during the year.

The company also paid a non-executive director consultancy fees totalling 149,997, which was a slight decrease on 174,650 paid to the director the previous year.

Malone Car Rental was established in 1995 by former Bord Failte director-general Joe Malone but was purchased three years later by Menton and the Keary Group.

Menton bought out the Keary Group in 2004 and brought Hyundai into the firm.

The company acquired the Thrifty franchise in 2002 and it currently has a fleet of over 1,800 vehicles.