Cork firms see sales up 28%

COMPANIES based in Cork have seen the highest average growth in sales over the first nine months of this year, research has revealed.

Latest monthly information from international research and company accounts’ database register, Corpfin, part of the Experian research group, show that Cork-based businesses enjoyed a 28.2% average increase in sales this year, up to the end of September.

In contrast, Dublin-based companies saw a 13.6% year-on-year rise in sales.

Firms in Waterford ranked third, with a near 12% sales rise registered while those in Limerick and Galway followed with respective increases of 6.7% and 5%.

However, a slightly different pattern emerges when actual average sales’ values are taken into account.

Limerick firms show the highest value of sales for the year to date to an average of €630.1 million.

Dublin firms’ sales were up to €311.7m; the average Galway tally amounted to €123m; Waterford total sales came to €72.8m and Cork had sales of €86.5m.

The average growth rates in pre-tax profit levels rose by 47.2% in Dublin, compared to the same period last year, while in Cork this rise has been 39.4%. Limerick firms have seen a 22.5% rise in profits so far this year, while those in Galway and Waterford increased around 20%.

Both the average value of total current assets and the value of total current liabilities were highest for firms in the capital but were lowest among companies in Cork.