Shannon Group reports ‘really positive year’ as companies record significant growth

THE Shannon Group has reported “a really positive year”, with three companies recording significant growth in 2018.

Shannon Group plc delivered a fourth consecutive year of growth in 2018, with passenger numbers up by 6.5% at Shannon Airport, visitors up by 4.3% at Shannon Heritage and Shannon Commercial Properties completing a €40m first phase investment programme.

It pointed to the results as continuing the strong momentum built since the Group’s establishment in 2014.

“2018 was a really positive year for Shannon Group. As a primary catalyst for economic growth for the West of Ireland and beyond, we fully understand that our improved business performance stimulates economic benefits both regionally and nationally. Shannon Group’s activities support 46,500 jobs annually. When we grow, the economy grows and 2018 was our best year collectively across the Group since its formation,” said Shannon Group CEO Matthew Thomas.

“We are set on an ambitious course, investing aggressively in our businesses to drive further growth in the years ahead. In tandem with this, we are fully committed to the National Planning Framework ambitions and have put in place measures to play our part in helping Government deliver on its promise of generating 75% growth outside of the capital by 2040,” he added.

Shannon Airport enjoyed its best year this decade with growth of 6.5% bringing total passenger numbers to over 1.86 million – delivering, in total, 33% growth since 2013 when it began operating independent from the DAA.

Shannon Heritage, the largest commercial operator of day and night-time visitor attractions in Ireland, recorded a record high of 924,718 visitors in 2018, while Shannon Commercial Properties more than doubled occupancy rates to 94% since 2013 after a €40m investment.

Rose Hynes, Chairman, Shannon Group it was “another very successful year”.

“Each division of the Group - Shannon Airport, Shannon Heritage, Shannon Commercial Properties - performed very well in 2018 despite often very challenging and uncertain commercial conditions. We are determined to build on our successes to date and to maximise the opportunities in each of our businesses.

“As a very significant business in the regional and national economy, we are committed to working in partnership with all our stakeholders to ensure a very vibrant future for Shannon Group and our region,” she added.