Opel’s Irish profits decline to €1.4m

OPERATING profits at Opel cars stagnated at €1.4 million in Ireland last year as sales suffered a sharp setback in a generally depressed auto market.

General Motors, owners of the Opel franchise, reported sales down by over 20%, resulting in a dip in turnover from €276m to €198.6m.

An interest payment of €580,000 on bank loans saw 2008 profits before tax fall to €1.12m compared to €1.93m in 2007.