PM Group see their overall revenues fall to €494 million

TALLAGHT construction management firm PM Group saw overall revenues fall to €494 million last year from €566 million in 2023.

This was driven by a decline in “through revenue”, where it carries equipment and contract costs on behalf of clients.

Underlying professional services fees rose five per cent to an undisclosed amount.

The Irish operation accounted for over 60 per cent of PM Group’s activity last year. PM Group’s operating profit rose 2.7 per cent to €34.8 million in 2024.

Speaking to the Irish Times, Anthony O’Rourke, chief executive of PM Group said that the uncertainty over international trade tariffs “did not help with regard to investment decisions.”

Mr O’Rourke added that the trade deal the Trump administration stuck with the EU in late July has been a “really positive” development.

The group, which employs about 3,800 people across Europe, North America and Asia, has noted a slowdown of foreign direct investment (FDI) in Ireland this year following a wave of activity over the past seven years.

While PM Group’s Irish professional services fees have “flattened” this year, they continue to grow internationally and via its fast-growing US operation.

Key Irish projects the group has worked on recently include an expansion by drugmaker Eli Lilly of its operations in Limerick, work with another pharma giant, Bristol Myers Squibb, in Dublin, and an expansion of Irish Distillers’ facility in Midleton, Cork.

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 world in the UK, Europe, China, India, Singapore and a number of locations in the United States, including California and Boston.