Losses down at Jacobs Engineering's Irish arm

PRETAX LOSSES at the Irish arm of international firm Jacobs Engineering last year decreased by 53 per cent to €1.5 million.

According to accounts just filed by Dublin-based Jacobs Engineering Ireland Ltd, the losses decreased from €3.4 million to €1.59 million, despite revenues dipping 6 per cent from €79.9 million to €75.3 million in the 12 months to the end of September last. The figures show the numbers employed by the US-owned group last year declined from 322 to 317, with staff costs decreasing from €25.3 million to €24.9 million.

The principal activity of the firm is to provide full service consulting, planning, engineering, architecture, design and construction field services.

The firm did not pay a dividend last year after paying €13.7 million in 2010. The directors’ report cautions that “further reduction in national economic growth may adversely affect the company’s revenue and margins”.

The loss last year reduced the firm’s accumulated profits to €2.9 million. The firm had shareholder funds totalling €5.2 million. Cash during the year reduced from €9.7 million to €6.4 million.

Five directors served during the year and the figures show directors’ remuneration last year increased from €511,090 to €533,382. The loss last year takes account of non-cash depreciation costs of €457,040.

The figures show the company’s cost of sales last year decreased from €72.3 million to €67.1 million, with administrative expenses decreasing from €10.7 million to €9.8 million.

The firm’s operating losses decreased by 47 per cent from €3.1 million to €1.6 million.

Globally, Jacobs employs 60,000 and its 2011 revenues topped $10 billion.