Fexco turnover rises by one fifth

PROFITS at Fexco were static in 2005 despite turnover rising by one-fifth to a record €166.7 million.

Accounts just filed for the Killorglin, Co Kerry-based company, which is involved in financial services, electronics payments and travel bookings, made a pre-tax profit of €13.2m, down from €13.6m in 2004. The firm said this was the result of a restructuring charge and higher staff costs.

Turnover in 2005 was up €28m on the previous year and 10m ahead of the company’s target.