Investment firm One51 reports first profit since 2006
Investment firm One51 has reported its first profit since 2006.
After-tax profits were €7.1m for 2013 compared to losses of €116.1m in 2012, the company said in a statement.
The company said it has now completed a two-year action plan that focused on selling off non-core assets.
Turnover across the group fell by 12.8pc in the year to €301.6m, reflecting disposals.
Earnings before exceptional items rose however, to €20.3m in 2013 up 11.8pc on the previous year.
“I am pleased to report that the Group delivered a profit after tax of €7.1m in 2013, its first profit since 2006. The turnaround in our fortunes which has accompanied the completion of the two-year action plan set out to shareholders in 2011 puts the Group in a position to focus on growth and increasing shareholder value,” chief executive Alan Walsh said.
In a statement the company said its focus has shifted to the growing shareholder value, following completion of the disposal programme.