Openet Telecom pre-tax profits surge to €3.4m

A COMPANY backed by businessman Barry Maloney, who shunned the recent Global Irish Economic Forum because Denis O’Brien was attending, reported a surge in profits for last year.

Openet Telecom Ltd, which provides billing services to the major phone companies, reported pre-tax profits of €3.4 million for the year to the end of December 2010 compared with €1.2m in the previous year.

Accounts filed with the Companies Office state that in 2010 Openet achieved “significant corporate growth” in key areas of increased revenues, solid market traction and the establishment of critical customer and partner relationships.