Operating profits for PM Group drop down to €39 million after conclusion of large projects

TALLAGHT project management firm PM Group said its operating profit fell 23 per cent to €33.9m following investment in expansion against the backdrop of inflation and the conclusion of a number of large projects.

Total revenue declined by 7.5 per cent to €566m, including pass-through revenue where it carries equipment and contract costs on behalf of clients.

Underlying professional services fees were in line with 2022.

Last year saw PM Group celebrate its 50th anniversary.

Headquartered in Tallaght, the group manage design, construction and project delivery solutions to clients in the pharmaceutical, food, mission-critical, med-tech and advanced manufacturing technology sectors.

They have offices across the word in the UK, Europe, China, India, Singapore and a number of locations in the United States, including California and Boston.

Key Irish projects last year included work on a €360m active pharma ingredient manufacturing facility in Blanchardstown and the design of a new distillery for Irish Distillers in Midleton, Cork.

PM Group’s UK team supported the delivery of projects for Pfizer and Johnson & Johnson in Belgium and for Thermo Fisher.