Healthy cash balance for Tony Quinn company
HEALTH and lifestyle guru Tony Quinn's latest filed accounts for Tony Quinn Health Centres (TQHC) Ltd show that the weight loss, life extension and mind power kingpin's company had a hefty €624,519 in cash on September 30, 2001.
This represents an almost fivefold increase on the previous year.
Mr Quinn's dozen shops held a range of products valued at almost €1.1m, according to the accounts.
These include 'mind-power nutrients', 'life extension mixes', audio-tapes and octogenarian Bob Delmonteque's range of antioxidants.
While the company showed €709,504 in total assets less current liabilities, the group's retained profit and loss was heavily in the red, at €989,450.
Malahide and Barbados-based Mr Quinn himself is not listed among TQHC's three directors who have addresses in Jersey, Malaga and Brittas Bay, Co Wicklow.
However, this might be explained by TQHC's ultimate parent company which is Jersey-based Baringo Trading Ltd.
Baringo also has control of two other arms of Mr Quinn's businesses, Human Potential Research, and Human Potential Research Seminars.
TQHC has listed Baringo as an outstanding creditor at year-end, valued at €980,224.
Mr Quinn's TQHC seems to be delivering a lucrative cash flow to the company that no doubt will fund continued product range development.
Mr Quinn has built up a very successful business operation from modest beginnings to more recent "healing blasts" via another Quinn-connected company called Educo Postal Requests.
He also came to major prominence in 1995 when he emerged as a psychological trainer during a title challenge for world boxing champion Steve Collins, for which he was paid €360,000.