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Actavo reports 8.7% revenue increase to €214.62m in 2022, driven by Ireland, but pre-tax profits fall 23% due to staff costs and non-core expenses.
Actavo, the international engineering group owned by Denis O'Brien, reported an 8.7% revenue increase to €214.62 million in 2022, primarily driven by strong performance in Ireland.
However, pre-tax profits fell 23% to €5.58 million due to rising staff costs and non-core expenses.
The company plans to exit underperforming contracts by 2024.
Actavo's cash position stood at €18 million, with shareholders' funds increasing 18.7% to €29.9 million.
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Actavo reporta un aumento de ingresos del 8,7% a 214,62 millones de euros en 2022, impulsado por Irlanda, pero los beneficios antes de impuestos caen un 23% debido a los costes de personal y gastos complementarios.