Belfast Telegraph

UK Website Of The Year

Resource deal spurs Noonan Services to £8.6m profit

By Gordon Deegan

Published 30/07/2015

Noonan chief executive John O'Donoghue
Noonan chief executive John O'Donoghue

Earnings at the Noonan Services Group, which bought Northern Ireland outsourcing firm Resource, increased by 9% to €12.2m (£8.6m) last year as revenues topped €200m (£141m).

Group chief executive John O'Donoghue said 2014 had been another "transformational" year, with the acquisition of Resource giving them a leading market position in Northern Ireland.

The takeover of the outsourcing firm contributed to Noonan's revenues outside Ireland increasing almost three-fold from €16.8m to €46.2m (£32.6m).

The Noonan group now employs more than 6,800 people, including around 2,400 who were employed by Resource.

According to the company's latest accounts, revenues increased by 29% to €203.2m (£143.6m) in the 12 months to the end of December 2014.

Mr O'Donoghue that said organic growth of 9% had been driven by a significant increase in new business wins.

He added: "The acquisition of the Resource business in September 2014 accounts for 20% of our revenue growth."

Belfast Telegraph

Your Comments

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting?

Read More


From Belfast Telegraph