Pre-tax profits at customer loyalty rewards firm Loyaltybuild Ltd fell by 7 per cent last year, despite of an increase in revenues.
The company’s revenue represents commission received in bookings made on discounted holiday packages for customer loyalty programmes. Profits fell to €4 million despite a 3 per cent rise in revenues to €10.1 million at the company in 2011.
Three Clare businessmen who owned the firm bucked the recession in 2008 when they sold the business to US group Affinion for €25 million. It is understood founder and chief executive Dominic Considine, aircraft leasing financier Domhnal Slattery, and developer and hotelier Seán Lyne received half of the proceeds up front. The balance was to be paid over a number of years, based on the company meeting certain targets.
The filings show the firm’s Irish business fell again last year, by 9 per cent to €3.2 million, while business in other European countries grew by 9 per cent to €6.8 million.
Affinion, founded in 1990, employs 3,000 people in the US and Europe.
