Loyalty firm’s pre-tax profits down 7%

Pre-tax profits at Co Clare- based customer loyalty rewards firm, Loyaltybuild decreased by 7% last year to €4m in spite of an increase in revenues.

The US-owned company recorded the decrease after revenues increased by 3% from €9.8m to €10.1m in the 12 months to the end of Dec last year.

In 2008, three Co Clare businessmen that co- owned the firm bucked the recession when they sold it to a US group, Affinion for €25m.