Profits up 54% at consultants who probed bank pay

Pre-tax profits at the consultancy firm that carried out a report into the pay at Irish banks last year increased by 54% to €9.57m.

New accounts filed by Mercer Ireland Holdings Ltd show that the group recorded the large jump in pre-tax profits as revenues increased by 12% going from €102.23m to €114.56m in the 12 months to the end of December last.

A small portion of the firm’s revenues arose from the report it carried out into pay at banks subject to the Government’s bail-out.