{"id":15984,"date":"2025-09-12T06:13:15","date_gmt":"2025-09-12T06:13:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/15984\/"},"modified":"2025-09-12T06:13:15","modified_gmt":"2025-09-12T06:13:15","slug":"project-delivery-pm-group-spots-slowdown-in-fdi-wave-into-ireland-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/15984\/","title":{"rendered":"Project delivery PM Group spots slowdown in FDI wave into Ireland \u2013 The Irish Times"},"content":{"rendered":"

PM Group, the Tallaght-headquartered international construction project delivery company, has noted a slowdown of foreign direct investment (FDI)<\/a> in Ireland this year following a wave of activity over the past seven years, according to its chief executive. <\/p>\n

Anthony O\u2019Rourke said that uncertainty over international trade tariffs \u201cdid not help with regard to investment decisions\u201d, adding that the trade deal the Trump administration stuck with the EU in late July has been a \u201creally positive\u201d development. <\/p>\n

\u201cThere\u2019s definitely been a slowing down in Ireland,\u201d said Mr O\u2019Rourke, whose PM Group is particularly exposed to construction projects in the life sciences sector. \u201cThat is something we\u2019d been expecting for a few years. But every time we thought [investment] was going to taper off the following year, it just kept going.\u201d<\/p>\n

He said there continues to be \u201ca significant amount\u201d of investment in Ireland, with many of the projects being upgrades of facilities that have been in place for many years, and also sustainability projects. <\/p>\n

While PM Group\u2019s Irish professional services fees have \u201cflattened\u201d this year, they continue to grow internationally, group chief financial officer Rosita Fennell said. This is particularly the case in its fast-growing US operation, which is benefiting from a trend of US companies bringing manufacturing activities back to their home market. <\/p>\n

The group\u2019s exposure to that data centre boom is also helping, she said. <\/p>\n

The UK market continues to be impacted by Brexit and economic uncertainty resulting in limited investment by multinational clients. Notwithstanding these challenges, PM Group\u2019s UK team supported the delivery of projects overseas, mainly in western Europe, during the year, the group said. <\/p>\n

PM Group\u2019s overall revenues fell to \u20ac494 million last year from \u20ac566 million in 2023, it said. This was driven by a decline in \u201cthrough revenue\u201d, where it carries equipment and contract costs on behalf of clients. Underlying professional services fees rose 5 per cent to an undisclosed amount. <\/p>\n

The Irish operation accounted for over 60 per cent of PM Group\u2019s activity last year. PM Group\u2019s operating profit rose 2.7 per cent to \u20ac34.8 million in 2024. <\/p>\n

The group employs about 3,800 people across Europe, North America and Asia \u2013 almost 40 per cent of whom are shareholders in the business. It aims to increase that to about 4,400 over the lifetime of a new strategic plan, to 2029, Mr O\u2019Rourke said. It is also targeting revenues of \u20ac750 million by then.<\/p>\n

Key Irish projects the group has worked on recently include an expansion by drugmaker Eli Lilly<\/a> of its operations in Limerick, work with another pharma giant, Bristol Myers Squibb<\/a>, in Dublin, and an expansion of Irish Distillers<\/a>\u2019 facility in Midleton, Co Cork. <\/p>\n

The group\u2019s net assets \u201cremained strong\u201d at \u20ac164 million, underpinned by minimal debt, which reinforces the group\u2019s capacity to invest and grow, PM Group said. <\/p>\n","protected":false},"excerpt":{"rendered":"PM Group, the Tallaght-headquartered international construction project delivery company, has noted a slowdown of foreign direct investment (FDI)…\n","protected":false},"author":2,"featured_media":15985,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[15002,72,113,12250,15000,61,60,15003,15001],"class_list":["post-15984","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-bristol-myers-squibb","tag-business","tag-economy","tag-eli-lilly","tag-ida-ireland","tag-ie","tag-ireland","tag-irish-distillers","tag-pm-group"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/15984","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=15984"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/15984\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/15985"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=15984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=15984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=15984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}