Financial Performance

Download a copy of the 2007 Annual Report and Accounts

TURNOVER
2007: €303 million
2006: €310m

Turnover decreased slightly by 2% year on year. This was primarily timing related as a result of a number of significant projects commencing later in 2007 than expected. All aspects of our turnovers base in terms of external contracting, internal development projects, PPP projects and Joint Venture Projects continue to perform very well.

GROSS MARGIN
2007: 8.6%
2006: 7.7%

Gross Margin % increased to 8.6% from 7.7% in the prior year. With pure contracting margins becoming increasingly competitive this reflects our continued focus on cost control and the significant contribution of our property development activities.

NET PROFIT BEFORE TAX
2007: €13.62m
2006: €11.33m

Net Profit before Tax increased by €2.3m or 20% year on year. This demonstrates the continued control of our overhead base and the underlying profitability of all our operations.

NET ASSETS
2007: €59.57m
2006: €38.5m

Net Assets increased by €21m or 55% year on year. This increase is as a result of our policy of strengthening our Balance Sheet through the retention of profits and also due to the revelation of our investment property assets by CBRE during the year, resulting in an increase of €9.3m in their value.

KEY PERFORMANCE INDICATORS
Interest cover: EBITDA basis: 15.9 times
Gearing Ratio (Total Debt/Total Assets): 40.2%
Return on Average Capital Employed: 27.9%