Newly listed security and recruitment company Newcourt reported a sharp rise in profits and said market conditions were conducive to further growth this year.
Newcourt's maiden set of results as a PLC show that gross earnings known as EBITDA grew from from €5.2 million to €2.3 million in 2005.
Security revenues, through Federal Group, were up 46 per cent, with the division's trading profit up 75 per cent to €4.2 million.
Sigmar, Newcourt's recruitment business, posted a trading profit of €1.3 million, up from €0.4 million in 2004.
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"The results for 2005 were very satisfactory and the group's performance in the first months of 2006 encourage us to believe that this trend will continue in the current financial year," the company said.