Profits 'double this year' at Dublin PR firm
Profits at the Irish arm of public relations firm Fleishman Hillard International fell sharply last year, according to accounts just filed for the year to the end of December 2016.
Revenue dipped slightly, to €6.818m in 2016 from €6.811 the previous year.
However, after-tax profits fell sharply to €249,426 for 2016 from €439,451. Fleishman Hillard Ireland managing director Rhona Blake said profits in 2016 were significantly reduced as a result of a decision by management to invest in winning major new business for the firm.
That targeted multinationals that already have a significant presence, including management, in Ireland, she said.
Those costs had paid off for the firm with new client wins, which included Allianz Worldwide Care, drug-maker Teva and Fitbit, she said.
"We secured a number of significant international businesses as clients, this is international business that can be 'hubbed' from Dublin," Rhona Blake said.
"We have had a great year this year, and as of November have already seen profits double on last year," she said.
The latest accounts show that Fleishman Hillard's Irish arm appointed four new directors this year: James Dunny, Eilish Joyce, Astrid Brennan and Brian Melarkey. James Morrissey and Ruth Burnside stood down from the board at the end of last year, the accounts show.
Staff costs were €2.75m - down from €2.8m in the previous year. Staff numbers were steady at 30.