PM Group profits up 20%

Irish engineering and project management firm, PM Group yesterday reported turnover of €355.5m to the end of 2013, a significant increase on the €193m generated the previous year.

At €9.7m, pre-tax profit grew substantially by 20% on 2012 thanks largely to increasing construction revenues, while operating profit rose 26%.

PM Group chief executive, Dave Murphy said: “We’re very pleased to report a good performance for 2013, notwithstanding a moderate economic recovery in established markets and a slowing growth rate in emerging markets. We booked €110m in new work orders across the group and finished the year with a significantly stronger order book. That momentum has carried through to 2014 with current project activity ahead of last year.”