Aviation recruitment firm Parc hit by rise in costs
Company reports pre-tax profits fall of 5.5 per cent to €3.37 million in 2014 financial year
Aviation recruitment specialist Parc recorded a drop in profits in 2014. Illustration: Askold Romanov/Getty Images/iStockphoto
A squeeze on margins left profits at aviation recruitment specialist Parc trailing by more than 5 per cent last year at €3.37 million, accounts just published show.
Parc’s turnover rose 7.7 per cent to €112 million in the 12 months ended March 31st from €104 million during the previous year.
However, a rise in costs dented its operating surplus and as a result pre-tax profits fell by 5.5 per cent to €3.37 million from €3.6 million in its 2014 financial year.
In their report, the Irish company paid its Canadian owner CAE a €3 million dividend during the 2015 financial year, which was unchanged on 2014.
The company’s balance sheet strengthened slightly during the year. Net assets increased to €8.8 million from €8.4 million.
Short-term debt grew to €16 million from €12 million. Amounts owed to other companies within the group accounted for the bulk of this at €8.5 million, which was €2 million more than on its 2014 balance-sheet date.