Kerry-based financial services and technology company Fexco has marked a return to profit after what it called a "promising" post-pandemic recovery.
Fexco today posted an operating profit before exceptional items of €1.2m for 2021, compared to a loss of €13.6m in 2020. It reported a profit after exceptional items of €59m.
Meanwhile, its income rose to €102.2m in 2021, up from €100.5m in the previous year.
The company said this equates to 60% of its pre-pandemic income for 2019 on a like for like basis.
Fexco had announced plans to hire 150 people last December and the company said that within the last 12 months, it has now added 200 new positions.
Fexco Group CEO Neil Hosty said the company was very happy with the group's performance despite the continued impact that the pandemic had on its foreign exchange related business in 2021.
He said today's strong results reflect the resilience of the business.
"Our Payments and FX businesses grew their customer base positioning them for growth as transaction volumes returned close to pre-pandemic levels by the second half of 2022," the CEO said.
"The successful sale of our shareholdings in Goodbody Stockbrokers and Taxamo delivered a robust balance sheet and positioned us well to drive significant growth in 2022," he added.
Fexco sold its 51% share of Goodbody Stockbrokers for €70m and its share of Taxamo for €31m.
Mr Hosty said that as global travel recovered in the second quarter of 2022, Fexco's travel related businesses have returned strong volumes and profitability.
"Our continued investment in organic growth and innovation has served us well across our divisions who are all delivering strong performance," he said.
"We have enjoyed re-engaging with and continuing to support the communities in which we operate from Kerry to Tonga and beyond," Mr Hosty said.
"We are excited by the impact that organic growth and strategic acquisitions will deliver for Fexco over the coming year," he added.
