Pretax profits at group retained at Corrib by Shell down 24%
Pretax profits at the environmental group retained by Shell Ireland to work on the controversial Corrib Gas project last year decreased by 24 per cent to €2 million.
In accounts lodged with the Companies Office, they show that revenue at the RPS Group and subsidiaries fell by 16 per cent from €72.3 million to €60.7 million in the 12 months to the end of last December. The number employed fell by a further 106 after a fall of 181 in 2010.
The group is involved in planning and engineering consultancy services to the State’s largest infrastructural projects, including Dublin City Council’s planned incinerator.
There was no dividend payout in 2011 following combined dividend payouts of €48.7 million in 2010 and 2009. The profit also takes account of almost €500,000 in lease penalties sustained by RPS relating to break clauses on two properties in 2011.
Cost of sales increased marginally from €46.7 million to €46.8 million last year with administrative expenses dropping sharply from €22.7 million to €11.8 million.
Accumulated profits stood at €18.6 million.