Pre-tax profits at the engineering consultancy which has worked on the National Children's Hospital last year declined by 30% to €2.39m.
New accounts filed by the Irish arm of engineering giant Ove Arup show that profits declined as revenues increased by 10% from €129.78m to €142m in the 12 months to the end of March 2025.
Numbers employed by Ove Arup & Partners Ireland Ltd increased from 776 to 805 as staff costs rose from €77.1m to €86.48m.
As part of its work on the National Children's Hospital, Arup's engineers, transport advisors and digital-architecture experts were brought in to help design a future-facing, sustainable and patient-centred facility.
The new accounts show that the company's Irish and European revenues last year increased from €109.76m to €120.99m while UK revenues dipped marginally from €15.65m to €15.2m. Revenues from 'Americas' decreased from €3.04m to €2.85m.
In their report, the directors state that "the performance and development of the company is in line with the expectations of the directors".
They state that "both the size of the operation and the business increased during the year".
The confirmed work for the company at the end of the year "is consistent with the capacity and the diversity of the company," the directors say.
They also state that "coupled with the steady growth, the directors have continued to successfully invest in those parts of the business which align with our strategy and our opportunity pipeline remains strong".
On the company’s future developments, the directors state that "the business was in a robust financial position at the year end and our future workload remains strong".
They state that "uncertainties around inflation, interest rates, government spending and geopolitical instability continue to impact on the markets in which we operate".
"Within this challenging and evolving business landscape we are focussing on growth opportunities in renewable energy, water, technology, building retrofits, and transport," they add.
The company recorded post tax profits of €2.32m after incurring a corporation tax charge of €67,720.
The company’s staff costs included salary costs of €73.64m and €821,865 for compensation of loss of office.
Pay to directors increased from €580,128 to €681,246. The company’s profits take account of non-cash depreciation costs of €2.68m.
At the end of March last, the company had shareholder funds of €19.33m as cash funds increased from €1.16m to €3.56m.
Group accounts filed by Arup Group Ltd at Companies House in the UK show that the group recorded pre-tax of £44.7m during the same period after generating revenues of £2.15 billion.
Reporting by Gordon Deegan
