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€30m lift for aero firm

AN IRISH aircraft engine-leasing firm employing just 22 people made significant pre-tax profits of $39.4m (€30.1m) last year.

The US-owned Shannon Engine Support Ltd increased its pre-tax profits from $32.2m to the 12 months to December last year. The increase icame in spite of revenues dropping by 13pc.

The directors' report states that the firm's profits last year "represents a margin of 41pc on its revenues".