Aergo: turnover rose but profits halved

PROFITS at an aircraft leasing firm owned by the businessman Denis O’Brien more than halved in 2003, according to accounts just filed at the Companies Registration Office.

Aergo Capital, which was set up by the former Esat Telecom boss, saw its profits fall to $2.15 million in 2003 from $4.7m the previous year.

The company attributed the fall to a difficult time for the airline industry, but said it has managed better than its competitors.