Thursday October 22, 2020

Profits down at military contractor as costs rise

The company makes parts for armoured personnel carriers and unmanned military vehicles

Barry J Whyte

Chief Feature Writer

@whytebarry
25th October, 2015
Timoney Group provide tanks like the one above

Revenues rose in 2014 at Meath-based military contractor Timoney Group but profits dropped, the company’s most recently filed accounts showed.

The company, which makes parts for armoured personnel carriers and unmanned military vehicles that are used by the US Marine Corps, saw its revenues rise from €7.5 million in 2013 to €8.6 million, but its profits for the financial year slump from €3.5 million to €1.9 million.

The drop was largely driven by rising costs,...

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