Industry & Business

Actavo records pre-tax profit of nearly €18m for 2015

Actavo records pre-tax profit of nearly €18m for 2015

July 28
14:31 2016

downloadActavo has recorded a pre-tax profit of €17.9m last year, compared with €14.3m in 2014.

Denis O’Brien’s engineering company which has a global workforce of over 5,000, generated revenues of €431m for the period, a rise of €107m from the previous year.

Around 70% of Actavo’s turnover for the year ending 31 December 2015 came from international markets, while the firms said all profits generated in the year have been reinvested back into the business.

Actavo CEO and Chairman Sean Corkery said the company’s growth was “organically driven across all our divisions over the financial year.

“We registered significant new business wins, contract renewals, acquisitions and project completions in Europe, Central Asia, Canada, Caribbean and North America.

“We are continuing with a focus on geographical and sectoral diversification,” he added.

In March Actavo expanded into the US with the acquisition of a key division of Atlantic Engineering Group for an undisclosed price.

The deal gives Actavo operations in the US states of Georgia, Texas, Missouri, and Colorado.

The company already has operations in the UK, Ireland, the Caribbean and Kazakhstan.

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