Pre-tax profits at Dublin-based aviation firm Parc Aviation fell last year even as revenues increased.
Accounts show that profits at Parc Aviation Ltd fell from €3.59 million to €3.37m in the 12 months to the end of March. Revenues rose from €104.6m to €111.7m.
CAE Parc Aviation is a global leader in providing aviation personnel on lease to airlines and aviation support organisations and is currently providing more than 1,400 flight crew and technical personnel to 70 clients operating 20 different aircraft types in over 40 countries.
In 2013, the firm expanded its operations into Singapore with the opening of a new engineering services office.
According to the director’s report: “[The company] recorded an increase in the volume of business.Maintaining operating margins continues to be challenging and margin decreases were recorded on some contracts resulting in an overall decrease in margins during 2015”.
The former Aer Lingus subsidiary was part of the Oxford Aviation Academy that was purchased by Canada’s CAE for C$314m (€201m) in May 2012.
During the period under review, Parc Aviation paid a dividend of €3m to its parent. Accumulated profits at Parc Aviation last year increased to €8.6m. Shareholder funds of €8.46m included cash of €5.8m.
The directors shared €543,000 in pay last year, while total costs for 67 staff came to €4m.
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