Galway construction firm returns to profit after implementing cuts

Galway Bay fm newsroom – Galway-based construction firm Coffey Construction returned to profit last year after implementing cuts and savings. A report in today's Irish Independent states that the firm recorded a pre-tax profit of over €2m after recording a pre-tax loss of €4.5m in 2012. Revenues also rose to over €26m. The turnaround in the company came after the firm cut the cost of sales resulting in the firm recording a gross profit of €5.3m. Numbers employed by the firm last year dropped from 254 to 183.