Arena builder doubles profit to €4.6m

The builder of the O2 Arena in Dublin last year bucked the trend in the construction industry by increasing revenues and more than doubling profits to €4.6m.

Accounts filed by Dublin-based Walls Construction Ltd show that pre-tax profits increased by 122%, from €2m to €4.6m, after revenues rose 4% to €111.7m in the 12 months to the end of December last.

Head of marketing and business development John Nolan said yesterday: “We are very happy with last year given the very tough trading conditions that continue to be difficult.”