Building firm’s pre-tax profits jump to €6.4m

Pre-tax profits at the builder of the O2 arena in Dublin last year rose 39% to €6.4m.

Accounts filed by Walls Construction Ltd, show the firm had pre-tax profits in spite of revenues falling 27% from €111.76m to €81.36m in the year to the end of December last.

The chief factor behind the rise in pre-tax profit was a one-off exceptional gain of €5m from the winding up of the firm’s defined benefit pension scheme.