Aerospace firm profits double

Pre-tax profits at a Dublin aerospace company, which was founded by four DCU graduates, more than doubled to €6.76m in 2012.

Accounts filed by Acra Control show the firm recorded the 122% increase in pre-tax profits as revenues increased by 105% going from €11.85m to €24.4m in the 12 months to the end of December 2012.

A contributory factor to the sharp upsurge in profits and revenue was that the accounting period for the prior year was nine months compared to 12 in 2012.