International financial services company Fexco has reported higher profits and income for 2018 with all of its business divisions growing their income.
The Co Kerry-based company said its pre-tax profits jumped by 93% to €37.2m for the year, while its income rose by 11% to €236m.
Fexco said it continued its strategy of investing in adjacent and emerging market opportunities, as well as re-investing in its core business units during the year.
It noted that 30% of its revenue is now generated from customers based outside of Europe.
The company already employs over 2,400 people in 29 countries and last year announced plans to create 175 new jobs at its headquarters in Killorglin over the next three years.
In July, the company announced the setting up of Metamo, a 50:50 joint venture between 16 of the country's largest credit unions and Fexco.
It said that Metamo will support credit union viability and sustainability through the provision of a modernised suite of financial products including enhanced lending capabilities.
Other recent developments include continued expansion into the aviation industry and the launch of Fexco Aviation Services in January as well as a deal in Asia which is expected to drive growth in its payments and foreign exchange division.
Denis McCarthy, CEO of Fexco Group, said that 2018 was another strong year for the group.
"We continue to reinvest in our core business, and to drive growth through innovation and acquisitions to expand our position as a global fintech business," Mr McCarthy said.
"We retain a strong and conservatively managed balance sheet that means we have the capability to pursue further growth opportunities when they arise," he added.
