Dublin Aero­space prof­its up 20pc

Sunday Independent (Ireland) - Business & Appointments - - FRONT PAGE - Gor­don Dee­gan

PRE-TAX prof­its at air­craft-main­te­nance com­pany Dublin Aero­space in­creased by 20pc last year to €3.67m.

New ac­counts show that rev­enues at the com­pany in­creased by 4pc, ris­ing from €43.54m to €45.24m, in the 12 months to the end of Septem­ber last.

Ac­cord­ing to the di­rec­tors’ re­port, “the in­crease in turnover was prin­ci­pally ac­counted for by higher vol­umes in air­craft over­haul ac­tiv­ity but turnover in each busi­ness unit in­creased year on year”.

The com­pany was es­tab­lished in 2009 by Conor Mccarthy and com­menced op­er­a­tions at the for­mer SR Tech­nics site at Dublin Air­port. SR Tech­nics closed with the loss of more than 1,000 jobs ear­lier in 2009.

Last year the firm paid €300,000 in div­i­dends and this fol­lowed a sim­i­lar pay­out in 2015. Num­bers em­ployed last year in­creased from 231 to 245, with staff costs to­talling €10.8m. Di­rec­tors’ re­mu­ner­a­tion amounted to €150,213.

The profit last year takes ac­count of non-cash de­pre­ci­a­tion costs of €1.6m and lease costs of €1.9m.

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