Profits at Noonan Services up 18%

PRE-TAX PROFITS at one of the largest private employers in the country last year increased by 18 per cent to €2.1 million.

According to accounts just filed by Dublin-based Noonan Services Group, they show that the group recorded the increased profits after revenues increased by 13 per cent from €118 million to €133.5 million in the 12 months to the end of December last.

The figures show that the numbers employed by the group last year declined from 5,920 to 5,729. In spite of the drop in staff, staff costs increased from €93.7 million to €110 million.

A spokesman for the group said yesterday: “We are pleased with the performance last year.”

The group has its HQ in Swords, north Co Dublin, and was established as a cleaning firm in 1977. Last year “cleaning and facility services” accounted for €77.6 million or 58 per cent of revenues compared to 70 per cent or €83.6 million of revenues in 2010.

The largest growth area in the group was security last year, with revenues from “man-guarding services” increasing by 71 per cent from €26.9 million to €46.2 million, accounting for 34 per cent of its business. The significant increase in security-related revenues followed the group’s purchase of Federal Security.

The figures show group revenues from pest management increased five fold from €124,267 to €674,518, with revenues from landscaping services tripling from €412,466 to €1.34 million.

Four directors that served during the year shared remuneration of €699,545.