Irish headquartered project delivery firm PM Group has reported an operating profit of €44m for 2022.
It was roughly in line with the performance for the previous year and was driven by a 14% increase in underlying fee revenue.
The company said its overall revenue of €612m was up 29% on 2021.
It said the growth in revenue was largely achieved following significant international expansion and investment in digital infrastructure against a backdrop of increased costs and inflation.
The company undertakes projects in a range of areas including the pharmaceutical, food, mission-critical, med-tech and advanced manufacturing technology sectors.
"The first quarter of 2023 saw a lot of the momentum we had built during 2022 sustained, however, the external environment is undoubtedly more challenging," Dave Murphy, CEO of PM Group said.
"With issues such as higher interest rates and high inflation, we have seen more caution. However, many of our multinational clients continue to invest in major capital projects across key markets," he added.
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PM Group has grown its international presence with expansion in Europe and the US in the recent years.
It employs 3,500 across Europe, North America and Asia. About a third of its workforce are employee shareholders of the business.
The group today announced the appointment of Anthony O'Rourke as chief executive designate succeeding current CEO Dave Murphy, who is due to retire at the end of the year.
