Pre-tax profits at Ascon builders climbed 28 per cent in 2002 to €18 million despite a fall in turnover at the group.

The company's strong results enabled it to pay a dividend of €5.9 million to shareholders.

This was up from €4.7 million in the previous year. Emoluments (including pension) for four directors rose from €885,368 to €997,452.

The company claims to be the largest civil engineering contractor in the Republic and consequently it has benefited from the large infrastructural investments of recent years.

The company's headquarters are in Kill, Co Kildare. Its wholly owned building division is Rohcon Ltd which operates across the spectrum of building activity.

Ascon and Rohcon are part of the Dutch Hollandsche Beton Group, hence the name HBG Ascon.

Among the projects the companies have been involved are: the Arklow by-pass; the Southern Cross; Punchestown Racecourse; Sheen Falls Hotel and Intel's Fab 14 plant.

While civil engineering remains a major part of the company's business, turnover from this unit actually fell in 2002 to €198 million from €217 million.

This was off-set by rising turnover in the general building division which climbed from €124 million to €137 million.

Overall turnover in 2002 fell to €335 million from €342 million the year before. However the company managed to cut its sales costs from €265 million to €261 million. This left the company with a gross profit of €11 million, down from €15 million.

However strong returns from joint ventures helped to increase the profits. In 2001 Ascon's share in joint ventures produced a loss of €4.5 million, but in 2002 this was reversed and a profit of €2.7 million from joint ventures was recorded.

The company's profit after tax was also up from €11.8 million to €15.1 million. More than €41 million of profit was brought forward for the year.

The average number of people employed by the group was 1,101, almost the same as in 2001.

Payroll costs actually managed to fall in 2002 to €66.4 million from €67.6 million the year before.

The company operates a defined benefit pension scheme for its clerical, managerial and executive employees.

It made a lump sum contribution of €635,000 in 2002 to the fund, up marginally from 2001.

According to the accounts an actuarial report from April 1st 2000 indicated the fund had "sufficient resources" at market value to provide for the rights of members if the scheme was wound up.

The group also participates in the Construction Industry Federation (CIF) pension scheme for its employees.

The contributions and benefits are determined on the advice of actuaries to the CIF scheme.