Shannon Group posts 2018 profit but warns of 737 Max grounding impact

Shannon Group has recorded operating profits of €12.7 million in the financial year of 2018,  with a turnover of €77.8 million last year, an 8% increase. However, the company booked a €5.8 million exceptional charge in respect of its voluntary severance scheme that was launched in November 2016. That reduced its profit before tax to €15.7 million. Group chief executive Matthew Thomas was quick to point out that there will be a more challenging year in 2019 with the negative impact of the global grounding of the Boeing 737 Max family of jets following the fatal crash of an Ethiopian