Social Protection bonanza as BearingPoint's Irish arm earns €34.5m in five years
Published 17/03/2014 | 02:30
Nice work if you can get it. One Dublin-based business consulting firm has enjoyed a €34.5m contract bonanza from the Department of Social Protection over the past five years, new figures show.
Social Protection Minister Joan Burton has confirmed that the Irish arm of the Dutch- headquartered BearingPoint received €5.26m in fees last year alone.
BearingPoint Ireland, which has a registered address in Dublin 2, also received €5.5m in fees in 2012; €7.8m in 2011; €8.1m in 2010; and €7.8m in 2009.
The company has been trading in Ireland for over 40 years. Its principal activity is the provision of management and technology consulting services. It claims to have all 15 central government departments on its books as well as more than 20 public services agencies.
Business from the Government helped to increase its Irish pre-tax profits almost four-fold last year to €846,002, as revenues topped €23.8m. In 2012, staff costs for 136 people totalled €11.86m, or an average of €87,240 each.
The overall spend by the Department of Social Protection on consultants and external service providers last year was €13.47m, up 30pc on 2012.
Defending the spend in a written Dail response to Fianna Fail's Willie O'Dea, Ms Burton said: "I am satisfied that the engagement of consultants and external service providers contributes to decision making and policy formulation, and provides valuable support for the department's service delivery modernisation and reform programmes, and that procurement of consultants and external service providers is compliant with best practice in realising value for money."
The figures also show that consulting giant Accenture received €2.09m from the department last year for a variety of contracts.