Tegral profits collapse 99%

PRE-TAX profits at building materials’ manufacturer Tegral collapsed last year by 99% from €12.33 million to €59,235.

According to documents just lodged by Tegral Building Products Ltd with the Companies Office, they show that the company’s turnover dropped by 44% from €72.8m to €40.8m to the end of December last.

The figures show that the Co Kildare company’s profits were hit last year by €3.2m in restructuring costs. The numbers employed at the company reduced from 239 to 193 last year. In June of this year, Tegral announced the loss of a further 41 jobs.