Digiweb sees return to profitability
New accounts show the Louth-based group recorded pre-tax profits of €11.2m in 2011 after recording a pre-tax loss of €2m the previous year. The return to profit comes despite revenues declining 7% to €38.9m. The chief factor behind last year’s profit was the exceptional item of Digiweb reducing its debt by €13.3m.
In its latest accounts, Digiweb’s directors state: “The strong improvements in profitability, scale and balance sheet now positions Digiweb optimally for the next phase of organic growth and a pipeline of acquisitions are being contemplated.”
