Jacobs Engineering’s Irish unit reports big rise in revenues

Company recently awarded contract to develop the Dublin MetroLink project

Metro: Work on the 26km route, 12km of which will be underground, is due to start in 2021

Metro: Work on the 26km route, 12km of which will be underground, is due to start in 2021

 

The Irish arm of engineering giant Jacobs, which recently led a consortium that won a €14 million contract connected with the Dublin MetroLink project, reported an 18 per cent jump in revenues last year to €439.8 million.

Latest accounts for Jacobs Engineering Ireland shows turnover jumped from €372.7 million in the 12 months to the end of September 2017 as pretax profits fell to €16.8 million from €17.3 million. Gross profits rose 5 per cent to €30.2 million

Jacobs, which also designs and builds plants for the pharmaceutical, biotech and energy industries, has built facilities for many of Ireland’s major multinational employers, including Pfizer and Intel.

The company, along with its consortium partner Idom, was recently awarded a contract by Transport Infrastructure Ireland for the planned 19km high-frequency, high capacity metro service for Dublin.

It said in a note that the rise in revenues was due to increased activity across several of the major markets in which its clients operate, including pharmaceuticals and biotechnology, advanced manufacturing and the energy business.

“The board are satisfied with the company’s performance and with its positioning for continued growth in full-year 2018,” directors said.

Jacob’s Irish subsidiary employed 418 people last year with staff costs totalling €33.2 million.

The company’s Texas-headquartered parent employs 77,000 people in 400 locations around the world and last year earned revenues of $10 billion. Jacobs’ has been in the Republic since the 1970s and has 400 staff here.

No dividend was paid out last year although a dividend amounting to €9 million was paid to the company’s parent in 2016.