The firm, which is owned by Seamus and Kathleen Gillen, operates five asylum accommodation centres in the west of Ireland, which can house a total of 600 people, on behalf of the state.

The accounts show that pre-profits at Bridgestock doubled in the 12 months to the end of June 2006 to 1.3m, compared with 670,267 the previous year.

The growth in profits was fuelled largely by a 1.6m rise in turnover to 6.2m, which suggests that the company has been one of the biggest beneficiaries of the state's Reception and Integration Agency's decision to close smaller centres due to a fall in the number of people seeking asylum in this country.