New accounts show that Jones Engineering Holdings Ltd and subsidiaries last year recorded a €48.6m pretax profit as revenues surged by 26% to €915.88mJones Engineering paid out a dividend of €47.15 million last year as revenue soared. The 2021 dividend payout came ahead of the owners selling the business to US- based Cathexis Holdings this summer in a deal believed to be worth more than €1 billion.
New accounts show that Jones Engineering Holdings Ltd and subsidiaries last year recorded a €48.6 million pretax profit as revenues surged by 26 per cent to €915.88 million. Last year’s pretax profit of €48.6 million was 21 per cent down on the 2020. Still, the dividend increased from €35.5 million a year earlier.
Prior to the deal being finalised on September 30th, the group’s chairman, Eric Kinsella, had 63.7 per cent of the business and chief executive, Jim Curley had a 27.3 per cent share. As part of the deal the two men have left the firm and both resigned as directors on September 30th. Jones Engineering is a global company that focuses on large-scale infrastructure projects in the pharmaceutical, healthcare, IT and data-centre industries, and generates about half of its revenue from overseas.
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