The parent company of Shannon Airport has recorded operating profits of €12.7 million.
Shannon Group’s financial report for 2018 shows strong growth in terms of cash flow, with a turnover of €77.8 million last year, an 8% increase in the space of 12 months.
Last year was Shannon Airport’s best year this decade, with more than 1.8 million passengers passing through the Midwest facility.
That’s a 6.5% increase in a year and is part of the driving force behind Shannon Group’s overall operating profits of €12.7 million.
Pre-tax profits overall, meanwhile, jumped by some 125% to €21.5 million – though this includes re-evaluation of properties as well.
Shannon Group was formed in 2014 and oversees the operation of the airport, Shannon Commercial Properties and Shannon Heritage.
Shannon Commercial Properties also experienced a year of growth, with over 650,000 square metres of new or upgraded office, manufacturing and warehouse facilities secured in the Shannon Free Zone.
Shannon Heritage, meanwhile, welcomed some 925,000 visitors to its attractions including Bunratty Castle.
Overall, Shannon Group invested €21 million in a range of capital investment projects to enhance its operations last year, which resulted in 37% growth in terms of operating profits.
