TECHNOLOGY company AMT-Sybex Group saw a 60 per cent increase in profit last year according to group financial statements filed with the Companies Registration Office.
Despite noting difficult trading conditions, the company recorded a pretax profit of €6.8 million on revenues of €46.4 million for the year ended January 31st, 2009.
This represents a 60 per cent increase in profit and a 0.2 per cent rise in revenue over the previous year. Earnings per share amounted to 14.3 cent.
An analysis of the company’s turnover shows that €43.7 of that turnover was achieved in Ireland and Britain, with Europe and the United States accounting for the rest.
Outsourcing and managed services accounted for over one-third of the company’s revenue, while mobile field working and information management services grew by 20 per cent in the same period.
Dividends to shareholders increased almost sixfold to just under €15 million, from €2.5 million a year previously.
Employee costs amounted to €21.2 million for the same time period. The total number of staff, excluding directors, employed by the company stood at 272, an increase of 22 on the previous year.
The company, a subsidiary of Glenshane, which is registered in the Netherlands, provides business consultancy services. It also develops and implements software solutions for leading companies and public-sector organisations, as well as acting as a consulting systems integrator to several FTSE 100 companies and UK government bodies.
In the year to January 2009, the firm made significant investments in its managed services and outsourcing services.
According to the director’s report, the firm enjoys a strong market presence in the provision of mobile working solutions and information management.
The AMT-Sybex Group acquired Design and Report Teams (UK) Ltd on December 1st, 2008 for €2.7 million. In the four months prior to the acquisition, the latter company recorded profit after tax and minority interests of €141,670.
Galway-born businessman Pearse Mee co-founded AMT-Sybex in 1990 and was group managing director until February 2003, when he became group deputy chairman, a position which he retains.
The company appointed British Conservative MP and shadow foreign secretary William Hague, a former leader of the party, to its board in 2004.
It has various subsidiaries with offices in Dublin, Belfast and Hertfordshire.
