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PM Group, the Irish headquartered international project management company, saw its operating profit jump 30 per cent last year to €34.8 million, driven by a surge in activity among its pharmaceutical clients.
Overall revenue, including pass through revenue – where the group carries procurement and contract costs of behalf of clients – rose by 16 per cent to €398 million in 2020.
PM Group has a workforce of 3,200 people in Europe, North America and Asia, providing design, construction and delivery solutions to clients in pharma, food, mission critical, medtech and advanced manufacturing technology sectors.
The group is employee-owned with more than 1,000 people holding shares in the business, up 15 per cent on prior year.
“Despite the enormous challenges posed by the global pandemic, our clients have continued to invest in developing their facilities and capacity right around the world. Many of the sectors and projects with which we are currently engaged, are actively dealing with the consequences of the pandemic,” said chief executive Dave Murphy.
“Therapeutics and vaccine manufacturing, food and beverage processing, medical devices and diagnostics as well as data centres are attracting significant investment to meet evolving market needs.
“Indeed, pharma is a powerhouse sector for us with two-thirds of overall revenues generated in 2020 associated with the sector.”
Active clients last year included Nivea owner Beiersdorf, pharmaceutical groups Boehringer Ingelheim, Bayer and AstraZeneca, drinks giant Pernod Ricard and sports gear group Nike.
PM Group said it is creating 400 new jobs this year across a range of disciplines including architecture, engineering, construction, data analytics, project controls and environmental, with half of the positions set to be based in Ireland.
Last month, the group appointed a new chairman, Brendan Jennings, who succeeds long-standing chairman and director, Dan Flinter. Prior to joining the Board, Mr Jennings was CEO of Deloitte Ireland.
In April, the group appointed Rosita Fennell, an internal candidate, to succeed Larry Westman as chief financial officer.