Builder group back in black

The group operated by Limerick timber tycoons the McMahon family returned to operating profit in 2013 after an increase in revenues.

Documents recently filed with the Companies Office by Derevoya Holdings Ltd and subsidiaries, show the group recorded an operating profit of €1.15m after sustaining an operating loss of €1.88m in 2012.

The return to operating profit follows the group increasing revenues by 4% from €50.56m to €52.72m in the 12 months to the end of December 2013.