PM Group sees pre-tax profits surge by 300%

Pre-tax profits surged by nearly 300% at engineering firm PM Group last year, latest annual accounts filed by the Dublin and Cork-based company show.

The Irish-owned international architecture and engineering firm recorded a pre-tax profit of €8.1m in 2012; up from €2.1m in 2011; although the latter figure was hampered by exceptional charges totalling €5m.

Gross profit remained steady at €34.3m, but operating profit was up by 17% at just over €8m and revenue — boosted by increased activity in the company’s core markets of Ireland, Belgium, Asia (mainly India and China) and Britain — rose by 10% to €193m.