ThirdForce announces drop in profits

Dublin based e-learning courseware and testing provider ThirdForce today announced a drop in operating profits from €1.3m in 2004 to €669,000 in 2005.

It said the cause for the drop was investment in new business divisions and the group’s technology suite totalling €1.2m.

Meanwhile, revenues for 2005 were up almost 5% to €12.6m.

“2005 has been another year of progress for ThirdForce, where we continued our investments in acquisitions, new business divisions, technology and new products,” said ThirdForce chief executive Brendan O'Sullivan.