Pretax profits at data centre builder Ardmac increased by 45 per cent to €19.1 million in 2023.
The Dublin-based group saw its revenues surge by 18 per cent from €195.29 million to €230.63 million.
Last July, global industrial group Purever Industries moved to purchase Ardmac for an undisclosed sum.
Headquartered in Portugal, Purever has operations in seven countries, primarily across Europe and the US. It posted revenues of €222 million in 2023.
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In its accounts, Ardmac’s directors said the group was “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 company’s principal activity is the design and construction of high value interior working environments for the life sciences, microelectronics, technology and commercial sectors.
They stated that the group “continues to expand its activities in the pharmaceutical and data centre sectors in the UK and mainland Europe which have continued to record good levels of growth in the year”.
The group “has secured strong orders for 2024 spread across both the market sectors and geographic locations within which it operates.”
The directors also said the company expanded its offerings to the electric vehicle battery sector with the first project commencing in the year in the UK.
A €5 million dividend for 2023 was declared, which followed a €5.4 million dividend for the previous year.
Employee numbers increased from 596 to 715 as staff costs rose from €42.3 million to €50.8 million.
The group recorded a post-tax profit of €16.43 million after incurring a corporation tax charge of €2.68 million. Its clients include Pfizer, Roche, Nissan, Novartis, MSD, Unilever and Rohan Holdings
Irish business accounted for €140.86 million in revenues last year with “rest of world” activity accounting for €89.77 million.
Pay to directors decreased by 14 per cent from €3.37 million to €2.9 million. The profit takes account of non-cash depreciation costs of €743,093 and non-cash amortisation costs of €300,513.
At the end of 2023, Ardmac had accumulated profits of €45.67 million. Cash funds increased from €38.74 million to €49.16 million.
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