THE Carlisle Trust, the property investment vehicle associated with former Ansbacher Bank account-holder John Byrne, saw profits slide by nearly 80% last year but its shareholders enjoyed an increased dividend payout of €5.7m.

Accounts just filed for the company show it made a pre-tax profit of €1.26m compared to €6.2m in 2008. The slump was due to the writing down of €6.5m investment in subsidiaries, the accounts said. The company invests in commercial property in Ireland; among the properties it owns is the head office of the Director of Corporate Enforcement and the Competition Authority.

In spite of the serious slump in profits, Carlisle Trust shareholders received a dividend totalling €5.7m, up from €5m. The ultimate parent company for the Carlisle Trust is based in the Cayman Islands.

Net assets at the 2009 year end fell to €38.3m from €46.2m. The accounts also show that the company had bank and other loans of €32m at the year end.

It emerged in 2002 that Byrne was one of several hundred people who had deposits with Ansbacher Bank. He was also a prominent witness at the Moriarty tribunal.