Monday 20 November 2017

Investment firm One51 reports first profit since 2006

One 51 signage
One 51 signage

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.

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