The Irish arm of engineering consultancy firm, ARUP last year returned to profit to record pre-tax profits of €3.42m.
New accounts filed by Ove Arup & Partners Ireland Ltd show that the group returned to profit after revenues increased by 7% from €121.2m to €129.78m in the 12 months to the end of March last.
The group recorded a pre-tax loss of €4.8m in the prior year when the directors stated that the company performance fell below the expectations of the directors who planned improved outcomes and fortunes for the coming years.
The €4.8m loss for the 12 months to the end of March 2023 included an exceptional cost of €750,000.
A note attached to the accounts states the €750,000 cost “relates to a profoundly regrettable tragic accident involving a 3rd party contractor working in our Dublin office in 2019”.
The note states that following uncontested proceedings at Dublin Circuit Criminal Court, the company was fined €750,000 under the Safety, Health and Welfare at Work Act 2005.
In the tragedy, John McCann (62) fell 24 metres to his death through an inadequately signed fragile surface on the sixth floor of Ove Arup and Partners Ireland Ltd, Ringsend Road, Dublin 4 on 23 September 2019.
The company pleaded guilty at Dublin Circuit Criminal Court to two breaches of the Safety, Health and Welfare at Work Act 2005.
In a statement, read out in court, Mr McCann’s family said the pain and hurt of losing their father was “just unbearable” and expressed the hope that no one else would lose their life or suffer the pain they are going through.
On the performance of the company in fiscal 2024, the directors in their report state that “both the size of the operation and the business increased during the year, and the confirmed work for the company at the end of the year is consistent with the capacity and the diversity of the company”.
They said that “along with the continued growth, the performance of the company met the expectations of the directors who plan improved outcomes and fortunes for the coming years”.
The directors state that for the year ended March 31, 2024 turnover per employee was €162,000 and operating profit – excluding exceptional items and staff profit share – per employee was €6,320.
Numbers employed increased by 50 from 757 to 807 as staff costs increased from €71.63m to €76.82m. The staff costs included €107,219 under compensation for loss of office. Pay to directors decreased from €660,664 to €580,128.
The company last year recorded operating profits of €3.87m and interest payments of €451,779 reduced the company’s profits to a pre-tax profit of €3.42m. The profit takes account of non-cash depreciation costs of €2.69m.
Reporting by Gordon Deegan
