Pierse Group directors remain upbeat despite €9m plunge in pre-tax profit

PROFITS at the Pierse Construction Group have collapsed, falling more than €9 million in the year to the end of April.

Accounts just filed for Birmayne, the holding company for the Pierse Group, show pre-tax profits down to €1.53m from €10.8m in the previous 12 months.

No specific reason was given in the accounts for the fall in profits, though the company’s cost of sales increased year-on-year.