Profit drop for group accused of illegal export

SLIGO-based Mac Aviation, accused in March by the US authorities with illegally exporting aircraft parts and engines to Iran, has reported a sharp drop in pre-tax profits for the year ended March 31, 2009.

Results show turnover more than halved from €19.3 million to almost €9m. Pre-tax profits are down from €5.1m to €1.9m.

The group paid tax of €247,254 on its earnings. Staff costs in the year amounted to €154,246, up from €122,547 in 2008.