Shannon Group has seen its pre-tax profits rise to 8.9 million euro in the space of a year.
The group’s annual report has revealed a 22 percent rise in profits, following a year of significant investment by major global firms.
Shannon Group’s impressive turnaround marks a third consecutive year where its seen its pre-tax profits rise.
This was achieved while more than doubling the capital investment programme in 2017 to over €34 million, through a range of projects.
The past year has seen major global firms including Jaguar Land Rover and Edward Lifesciences choose the Shannon Free Zone for their European expansions.
2018 is already off to a strong start with a 5 percent growth in passenger numbers at Shannon Airport recorded in the first quarter and the group is targeting further major investments there.
The report follows the Economic Impact Assessment revealed yesterday, which shows that Shannon Group supports some 46,000 jobs and is worth 3.6 billion in economic output annually.
This is expected to rise to 54,000 jobs by 2021, under ambitious targets set out under the National Development Plan.
