The firm itself is planning significant expansion however, including ramping up its growing US arm which is now operating at the \u201ccritical mass\u201d needed to lead significant industrial projects, he said.<\/p>\n
“In Ireland there was a huge, unprecedented, surge in investment over the last six or seven years. It would be normal that would taper off and we are seeing a flattening without any major fall in activity, he said. <\/p>\n
PM Group is a project delivery company helping blue-chip firms such as pharma giants Johnson & Johnson, \u00adAstra Zeneca and Bristol Myers Squibb to manage major construction projects, its home market in Ireland is its single biggest but it operates in the UK, Continental Europe and the US.<\/p>\n
The work mix in Ireland is shifting, O\u2019Rourke said.<\/p>\n
Many large facilities that have been completed in Ireland over recent years are now being commissioned with production likely to take years to fully ramp-up but while demand is growing for smaller refurbishment and upgrade work and for sustainability projects, he said.<\/p>\n
The firm has had a US presence for 15 years but has seen activity significantly increase more recently and it is a major strategic focus, he said. <\/p>\n
It has opened a new office in North \u00adCarolina and expanded its presence in Philadelphia where the business now needs bigger offices, due to be occupied from next month.<\/p>\n
North Carolina is a major hub for life sciences companies including many that have been PM Group clients in Ireland.<\/p>\n
Mr O\u2019Rourke was speaking as the Irish group reported results for last year that showed revenue of \u20ac494m, down more than 12pc from 2023 and well below the 2022 tally.<\/p>\n
The reported revenue includes so-called pass-through revenue, where PM Group carries equipment and contract costs on behalf of clients.<\/p>\n
Operating profit was up, however, at \u20ac34.8m in 2024 versus \u20ac33.9m a year earlier.<\/p>\n
The firm had net assets of \u20ac164m at the end of the year.<\/p>\n
The business employs 3,750 people, including over 1,400 are shareholders. It recruits around 100 graduates across a number of disciplines annually and is also set to add around 600 additional roles.<\/p>\n
PM Group effectively has no debt, and CFO Rosita Fennell said that it has the capacity to continue to fund expansion from retained earnings.<\/p>\n","protected":false},"excerpt":{"rendered":"The firm itself is planning significant expansion however, including ramping up its growing US arm which is now…\n","protected":false},"author":2,"featured_media":15130,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,61,60,898],"class_list":{"0":"post-15129","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-ie","10":"tag-ireland","11":"tag-latest-news-ticker"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/15129","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=15129"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/15129\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/15130"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=15129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=15129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=15129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}