Development eats into 11890 profits

Costs associated with developing a new area of business contributed to pre-tax profits at directory inquiry firm 11890 declining by 40% to €417,395 last year.

Figures show the Dublin-based 11890 Ltd recorded the drop in profits in spite of increasing revenues by 4%, from €4.11m to €4.29m, in the 12 months to the end of May 31, 2012. Pre-tax profits dropped from €688,006 to €417,395.

11890 founder and chief executive Nicola Byrne said yesterday: “We are very pleased with how things have gone. It is very tough in terms of the economy and we are working twice as hard as before.”