Pretax profits at Actavo, the company which formerly operated as Siteserv, saw its profits rise by 80% last year to €14.24m according to its most recent accounts.
The utility servicing group's revenues were nearly 40% higher at €324m. The directors expect 2015 revenues to rise to €400m.
One of Actavo’s Irish subsidiaries, GMC/Sierra secured a water installation contract from Irish Water and its activities helped to push group revenues in Ireland to more than €80m last year - though two thirds of the group's sales were generated outside of the State.
Last year saw the group record its strongest performance since businessman Dennis O'Brien's Millington purchased Siteserv for €45.4m in 2012.
The deal saw the State-owned IBRC write off €110m of its €150m debt - a controversy grew after Independent TD Catherine Murphy revealed that documents which she had received under the Freedom of Information act showed that there had been official concerns over the sale.
A review of all IBRC deals was subsequently launched by the Government.
Employee numbers at the company have grown to 3,367 people across 50 locations.
Actavo chief executive Sean Corkery recently said the group was targeting sales of up to €1bn by 2020 and suggested it may seek a stock market flotation within that timeframe.
