Pre-tax profits at Dublin based data centre builder, Ardmac last year increased 18% to €13.2m.
New accounts show that Ardmac Group Ltd recorded the increase in pre-tax profits as revenues rose by 44pc from €135.4m to €195.29m.
The accounts disclose that the business - which designs and constructs buildings for the life sciences, microelectronics, technology and commercial sectors - also declared a €5.43m dividend for the year.
The group recorded a post tax profit of €11.52m after incurring a corporation tax charge of €1.68m
The group's clients include Pfizer, Roche, Nissan, Novartis, MSD, Unilever and Vodafone.
The directors said that the Group "has secured strong orders for 2023 spread across both the market sectors and geographic locations within which it operates".
They said that the Group "is well-placed to continue to deliver strong performance in its core markets in Ireland".
"This reflects the robust underlying activity levels in the various specialist sectors in which the Group operates. In particular the Group continues to maintain a strong position in the life sciences, microelectronics and pharmaceutical sectors."
The directors add that "the Group also continues to expand its activities in the pharmaceutical and data centre sectors in Continental Europe which recorded good levels of growth in the year".
"Following a review of the recent trading and out look for its UK Commercial Fit out sector the directors decided to exit the sector and trading in its Commercial Fit out Business Unit ceased at the end of 2022".
They said that the Group's "other UK businesses successfully delivered a number of projects during the financial year and are well positioned in the coming year to maintain its strong market position in the life sciences and technology markets".
The group’s Irish business last year accounted for €124.74m in revenues with 'rest of world’ accounting for €70.55m.
Numbers employed by the company increased by 133 from 463 to 596 with staff costs rising from €34.67m to €42.3m.
Pay to directors reduced by 24% from €3.95m to €3m.
No Covid-19 wage subsidy scheme payments were received last year and this followed €2.27m received in 2021.
The profit takes account of non-cash depreciation costs of €700,865
At the end of 2022, Ardmac had accumulated profits of €35.93m. The group’s cash funds increased from €31.8m to €38.74m
Reporting by Gordon Deegan
