Engineers' Irish unit slips back into the red
Published 22/09/2015 | 02:30
The Irish arm of engineering firm Mott McDonald plunged back into the red last year after the firm performed below expectations.
New figures show that pre-tax losses at Mott McDonald Ireland totalled €310,648 last year.
Those losses followed pre-tax profits of €593,327 in 2013.
The firm returned to the red in spite of revenues increasing by 20pc to €24.4m.
The directors stated that "the results for FY2014 were below expectations".
The directors said that the return to loss "is attributable to escalation in administrative costs... and unrecovered costs on projects, which are being pursued and exchange losses."
Numbers employed by the firm increased from 123 to 129 last year and that directors state that "are satisfied with the group's performance in the year under review".