Contractor Bennett (Construction) saw pre-tax profits rise by more than 50% despite the fact that turnover fell by more than €40m in the year ended 31 March 2009. Turnover fell from €186.8m to €143.3m but profits rose from just under €1.5m to nearly €2.4m.

Retained profits stood at €16.24m at the end of the financial year, up from €13.85m the previous year.

Employee numbers fell from 172 to 157 and employment costs fell substantially, down to €8.6m from €11.7m. Directors' pay fell to €3m from €3.8m, largely because no pension contribution was made for them during the 2009 financial year.

The value of the company's stocks, which are works in progress, dropped from €29.2m to €19.65m during the financial year.

Bennett (Construction) is owned by Chris and John Bennett, with Chris holding 60% of the company. The construction arm of the group is involved in projects in Ireland and the UK, and has moved into the United Arab Emirates market in recent times.