Monex directors share €6.3m dividend as profits and revenues up

Co Kerry fintech reports full-year revenues of €113.4m with pretax profits rising to €7.3m

Monex chief executive and founder Frank Murphy

Monex chief executive and founder Frank Murphy

 

Directors at Co Kerry-headquartered financial payments company Monex shared a €6.3 million payout last year as revenues reached a record high.

The company, whose clients include Ryanair, Hertz, Hilton Hotels and Bank of China, processes more than 271 million card transactions across 50 countries each year with processed transactions worth over €40 billion.

Monex was founded in Killarney in 1997 by former Fexco senior executive Frank Murphy. It employs more than 120 people globally.

Mr Murphy still holds 85 per cent of the ordinary share capital, with chief operating officer Michael Crowley owning the remainder of the stock.

Recently filed accounts show the company reported revenues of €113.4 million in 2018, up from €112.4 million a year earlier. It also generated pretax profits of €7.3 million, up from €7.04 million in 2017.

Monex employed 42 people locally last year with staff costs totalling €3.2 million.