Source of Wealth:Car sales, Leasing
Michael Toomey has a net worth of £34 million as of April 2012, according to the Sunday Times UK Rich List. Laindon Holdings was set up in 1929 by Joseph Toomey, selling motorcycles. In addition to the George Martin construction arm and car dealerships, Laindon has a car rental and repair business, five vehicle-leasing firms and a taxi and courier business. Run by Toomey son of the company’s founder, Laindon made nearly £1.8m profit on £171.4m sales in 2010. It has £31.5m assets and should be worth that sum. MJT Securities, in Basildon, another Toomey company, made £548,000 profit on £1.4m sales in 2011. With £2.6m assets, it is worth £2.5m.
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