CAO continues to see profits despite fee cuts

The cash-rich CAO continues to make significant profits in spite of reducing college application fees last year.

According to accounts lodged to the Companies Office, its pre-tax profits last year totalled €955,103 — a 28% drop on the €1.3m recorded in 2011.

This follows revenues at the CAO last year falling from €3.1m to €2.98m. Its directors attribute the drop in income to a fall in application fee prices.