McMahon group made €12.3m in 2004

LIMERICK-based builders' provider James McMahon saw profits rise by nearly 50% in 2004, newly-filed accounts reveal.

The firm generated pre- tax profits of €12.3 million in 2004, up from €8.3m the previous year. Turnover over the same period increased from €121.1m to €144.4m.

The accounts show that although the cost of sale and administrative expenses rose in 2004, profits were boosted by a lower interest charge and a €2.4m gain on the sale of a fixed asset.