A good year for Shannon Group

Shannon Group plc recorded another positive year of trading in 2016, as turnover hit €67.2 million, up by over 2% on 2015.  In its second full year of trading, the group, the parent company of Shannon Airport, Shannon Commercial Properties and Shannon Heritage, recorded EBITDA of €7.6 million, reflecting a solid performance and a 10% increase on 2015.

Announcing his first annual results as CEO of Shannon Group, Matthew Thomas said that a continuation of the company’s improving financial performance is necessary to enable it to undertake critical investments across its business units.

“The Shannon Group has a unique mix of complementary businesses that, more than any other commercial entity in the region, gives it the potential to positively influence economic development. Sixteen companies who announced new or expanded operations in 2016 in the Mid-West, which was the fastest growing region outside of Dublin last year, cited the global connectivity at Shannon Airport as a key influencer in their decision to invest here,” he said.

Mr Matthews said Shannon Group intends to undertake a significant investment programme across its businesses, “particularly at Shannon Airport and Shannon Commercial Properties. Our third business unit, Shannon Heritage, manages Ireland’s largest collection of day and night-time visitor attractions and we see very significant opportunity for growth there also”.