Google Ireland out of red with pre-tax profits of €10m

GOOGLE Ireland jumped out of the red last year with pre-tax profits of just over €10 million.

The company, which employs more than 1,300 people in Ireland reported an increase in turnover from €5,282m to €6,739m, which it said was due to the continued rapid growth in the online advertising market and the continued emphasis on developing the business in the European market.

In the year to the end of 2008 administrative expenses increased from €3.5m to €4.6m, a jump of just over €1m. The increase was due to a significant increase in headcount, sales and marketing efforts and royalties paid out, Google Ireland Limited said in accounts just filed.