Irish profit of €7.66m for engineering firm Jacobs

The Irish division of Jacobs Engineering, which recently won a four-year contract with Transport Infrastructure Ireland (TII) to provide technical consultancy services for the delivery of national roads projects, saw profit decline last year despite a 24 per cent rise in revenue.

Accounts recently filed with the Companies Registration Office show Jacobs Engineering Ireland Limited recorded a profit-before-tax of €7.66 million for the 12 months to September 30th, 2015, down 21 per cent on the €9.77 million reported a year earlier.

This came as revenue rose to €207 million from €168 million on the back of increased activity in several of the markets in which its clients operate, including pharmaceuticals and biotechnology, infrastructure and the energy market.

After provision for taxation, the retained profit transferred to reserves was €6.61 million, down from €8.56 million in the preceding year.

“Order backlog is very healthy and indicates a strong year ahead,” the directors said.

New York-listed Jacobs is one of the world’s largest and most diverse providers of technical, professional and construction services. The group has operations in more than 250 locations across more than 35 countries and employs about 65,000 people.

Jacobs has built facilities for many of Ireland's major multinational employers, including Pfizer and Intel.

“We have seen an increase in projects and prospects related to foreign direct investment in our traditional core markets in the pharmabio and high-technology sectors. The board is confident that 2016 will be a strong year as we are well positioned to gain market share in all sectors,” the directors said.

The latest accounts show working capital at the group’s Irish unit improved during the year under review, rising by €7.3 million to €39 million.

A dividend of €9 million, amounting to €900 per issued ordinary share, was approved after the year end.

The company employed 375 people at the end of September. Employment costs, including wages and salaries, totalled €31.8 million with directors’ remuneration rising to €662,625 from €629,021 a year earlier.