Revenues down 70% at construction firm

REVENUES at one of the best known construction companies in the mid-west plummeted 70% last year as it felt the downturn in the construction sector.

Accounts filed by Michael Lynch Ltd show the Ennis, Co Clare-based company’s revenues in the 12 months to the end of March 2010 were €4.6m. This is compared to 15.5m in the 18 months from October 2007 to March 2009.

The company recorded a pre-tax profit of €3,948 in the 12 months to the end of 2010. The directors state that this result arose “due to the economic downturn, which may continue to affect the future operations of the company”.