The Irish arm of leading advisory and communications group Teneo paid a dividend of €2.55 million to its New York parent in October last year, according to accounts just filed.
The accounts for Teneo Strategy Ireland Limited relate to 2024, a year when the company’s Irish revenues rose by 2.6 per cent while profits increased by 21 per cent to just under €1 million.
The filing shows that the company increased its turnover to €33.1 million in 2024 from €19.1 million a year earlier, but this performance includes a German debt advisory business called Herter that was acquired in late 2023.
In terms of the Irish business, its revenue rose to €15 million, up from €14.6 million a year earlier while its net profit increased to €980,789, up from €807,783 a year earlier.
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The interim dividend was paid after the year-end and compared with a payment of just more than €2.6 million a year earlier.
Since the beginning of 2024, the firm has added several high-profile clients, including the US NFL and the Pittsburgh Steelers, retailer Primark, Visa, Amazon Web Services, and Airbnb.
Other high-profile clients on its books include Aer Lingus, Bank of Ireland, Circle K and the British & Irish Lions.
Commenting on the results, Teneo Ireland chief executive Mick O’Keeffe said: “Revenues were as planned and remained strong and stable after a number of years of consistent growth. Critically, as a mature and established business, we retained key clients and secured several new mandates.
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“We have increased the number of cross geography projects and worked closely with colleagues across Teneo’s Europe, UK and US offices, and continued our integration with our financial advisory partners in Dublin. Our government affairs, sports advisory, strategic communications, management consulting, brand advisory and digital communications services all performed well in 2024.”
When asked about trading since the end of 2024, Mr O’Keeffe replied that it reflected a “similar growth path” to the previous year.
Globally, Teneo has performed strongly, more than doubling its revenue and tripling its valuation in the past four years.
It was valued at $2.3 billion in a minority investment by LGT in August last year and had a record 2025 with revenue of more than $750 million.
Headquartered in New York, the firm was set up in 2011 and is led by Irish man Paul Keary, a co-founder of the business.
The board of Teneo Ireland is chaired by experienced Irish businessman Gary McGann. The company also operates Teneo Restructuring, a related entity established more than four years ago and led by Damien Murran.
Latest accounts for Teneo Restructuring show that its profits more than tripled to €4 million in 2024 on the back of a series of high-profile restructuring assignments.
