Profits increase to $145m at Irish arm of BOC Aviation
PRE-TAX profits at the Irish arm of aircraft-leasing firm, BOC Aviation increased by 1.5pc to $145m (€129.7m) last year.
New figures lodged by the Dublin-based BOC Aviation Ireland Ltd with the Companies Office show that the firm enjoyed the rise in profits after revenues increased by 13pc, from $327.36m to $369.4m.
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The bulk of the company's revenues was raised from lease rental income which totalled $350.9m last year.
At the end of December last, the company had shareholder funds of $803m and this included accumulated profits of $680m.
The BOC group is currently in growth phase and has 507 aircraft owned, managed and on order. The Irish arm employs eight people and they shared aggregate pay of $3.85m. Salaries, bonuses and other staff costs totalled $3.4m while $379,000 was paid in social welfare costs along with $71,000 in share- based compensation.