Fexco pre-tax profits increase from €1.4m to €19.8m

FEXCO, the Kerry-based financial services and online travel bookings group, saw pre-tax profits increase from €1.44 million to €19.8m last year.

The low profit in 2007 was due to impairment costs on some of its investments and the winding up of one of its subsidiaries.

Consolidated group turnover for 2008 was down 5% to €191.2m, according to accounts just filed.