Shannon Group sets aside €1.33m for redundancies

The Shannon Group last year set aside €1.33m to finance a group-wide voluntary redundancy scheme and expects to incur additional costs in a further phase of the scheme this year.

The spend on the voluntary redundancy programme comes after Shannon’s related aeronautical and commercial revenues dipped slightly to €37.37m from €37.76m in the previous year.

The Shannon Group increased turnover by 2% to over €67.2m. Revenues from its tourism operations, which include Bunratty Castle, increased 13% to €15.38m. Revenues from the group’s property business had a marginal increase from €14.2m to €14.4m.