TE Services (Ireland) Ltd made a pre-tax profit of €951,270 in the year to the end of July 2003, a slight fall on the €1.04 million made in the previous year.

Turnover at the Eircom subsidiary increased to €32.7 million, from €29.9 million a year earlier.

Financial accounts filed with the Companies Office recently show the firm employed an average of 132 people during the year, up from 118 a year earlier.

The firm's parent company is TES Investments Ltd, a company incorporated in the Channel Islands. It is not known who owns the remaining 65 per cent of TE Services not held directly by Eircom, due to its parent's offshore location.

Directors' remuneration for management services amounted to €472,684 in the year to the end of July 2003, according to the accounts, which show 13 directors served during the period. Seven directors resigned during the year and eight were appointed, including Mr Gerry Ruane, an executive of the Communications Workers Union.