Gowan Group returns to profit

One of the largest family- owned businesses in the country, the Gowan Group, last year returned to profit to record pre-tax profits of €6.3m.

Accounts recently filed by Convest Ltd to the Companies Office show that the group recorded the pre- tax profit of €6.3m after recording a pre-tax loss of €9.9m in 2011 — a positive swing of €16.2m.

The return to profit followed revenues increasing by 7% from a total of €106.3m to €114.1m in the 12 months to the end of December.