Engineering services group Actavo almost doubled its pre-tax profit last year as the company continued to streamline its operations, even though revenue declined following the completion of several major contracts.
New consolidated accounts filed by Actavo Group Ltd show pre-tax profit rose 80% to €23.12 million, up from €12.82 million a year earlier. Revenue fell 17.5% to €162.6 million from €197.1 million as the group reduced its exposure to underperforming business areas and completed contracts that had boosted sales in the previous year.
The company said the lower revenue reflected its strategy of reshaping the business rather than weaker underlying performance. Directors said the group had continued to exit underperforming contracts and business units while maintaining stability across its operations.
“We are pleased with 2025 business performance overall and the stability of all our divisions across the group,” the directors said in the accounts. They added that the company remained confident about future growth as the restructuring programme progresses.
The group also disclosed that, after the financial year ended, it completed the sale of assets from one of its core businesses as part of its ongoing effort to simplify operations. The accounts did not disclose further details of the transaction.
Actavo’s core operating profit increased by 65.2% to €22.9 million from €13.9 million. The company’s gross margin improved to 26.2%, compared with 19.4% a year earlier, helping offset the decline in turnover.
The business also rewarded shareholders after the year-end by paying a dividend of €10 million, matching the distribution made in 2025. Actavo is jointly owned by businessman Denis O’Brien and his long-time business partner Leslie Buckley through Isle of Man-registered companies. O’Brien holds an 87% stake, while Buckley owns the remaining 13%.
Employment across the group fell by 254 during the year, with total staff numbers declining from 1,612 to 1,358. Of those employees, 1,063 worked in operational roles and 274 in administration. Staff costs dropped 23.5% to €70.19 million from €91.8 million.
Ireland remained the company’s largest market, generating €131.1 million in revenue, equal to 81% of total group sales. In the previous year, Irish operations accounted for €138.8 million, or just over 70% of total revenue. Revenue from international operations declined to €31.42 million from €56.22 million.
The accounts show Actavo remained in a strong financial position at the end of December. Shareholders’ funds stood at €50.6 million, including accumulated profits of €33.4 million, while cash reserves increased to €50.5 million from €45.3 million.
Directors attributed the stronger cash position to robust profit generation and the release of working capital as contracts reached completion. They also noted that the group had no third-party debt apart from lease obligations relating to certain assets, leaving the company with considerable financial flexibility as it continues its restructuring programme.
