Midwest-based lift manufacturer Ennis Lifts reported a significant increase in pre-tax profits in 2005, according to accounts filed with the Companies Office.

Its accounts show that the Ennis firm increased its pre-tax profits from €48,000 in 2004 to €629,000 to the end of 2005.

The returns also show that turnover rose from €12.3 million in 2004 to €13 million in 2005, with the cost of sales going down from €6.7 million to €6.5 million.

The profit helped reduce Ennis Lift's accumulated loss from €963,000 at the end of 2004 to €333,000 at the end of 2005.

Its overall financial health remains strong with cash in hand and in the bank at €1.47 million and equity reserves of €954,000.

Established in 1979, Ennis Lifts claims to be the largest independent lift company in Ireland. Yesterday, its managing director, Garech McGuinness said: "We're very happy with the progress we have made. We have a dynamic team who have worked very hard and we are now seeing the fruits of an aggressive business plan we put in place three years ago."

The company is engaged in the assembly, installation, maintenance and repair of hydraulic and electric fraction lifts, serving a broad spectrum of industries.

The directors' statement with the accounts says that "both the level of business and the year-end financial position were satisfactory and the directors expect that the present level of business will continue in the future".

The accounts show that the firm employed 75 people in 2005 and paid €3.4 million in salaries. Thirty-two people work in manufacturing, 27 in administration, and 16 in maintenance.

The accounts list Garech McGuinness and Patrick Taylor as the two directors of four who have ordinary shares in the business. Directors' remuneration rose from €322,000 in 2004 to €551,000 in 2005.