Engineering company Mincon said today that its first quarter revenues are up 6% compared to the same time last year.
In a trading update, the Shannon-based firm said its profit before tax for the three month period rose by 12.4% compared to a rise of 10.8% in the first quarter of last year.
Mincon said its manufactured product sales were up 19% in the first quarter, while third party product sales fell by 27%.
The company said it did not increase prices during the quarter, but flagged a wide ranging and general uplift through the rest of the year where the competitive context facilitates this.
At the end of the quarter, Mincon bought the Driconeq group for up to €8m.
"We continue our strategy of improving our product mix by manufacturing what we sell, where this provides commercial advantage," the company said.
"This has resulted in Mincon product representing 81% of sales in the quarter compared to 73% last year. The mix improvement has resulted in an improvement in margins alongside the revenue uplift," it added.
