First results promising for Newcourt Group

The newly listed Newcourt Group has announced its first set of results since its admission to the Irish Enterprise Exchange last November. The company is involved in the security and recruitment sectors.

The company reported pre-tax profits of just over €2.2m for 2005, up considerably from €340,000 in 2004. Earnings per share for 2005 were 6.09 cent, compared to 2.40 cent in 2004.

Turnover in 2005 was €65.3m, which represents an increase of almost 53% compared to 2004 figures.

Newcourt's chief executive Ted O'Neill says that 2006 will be a busy year for the company as it looks to the development of its existing business through further organic growth and by considering targeted acquisitions.