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.

October 14, 2024
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