Pre-tax profits at Irish holding company for Mentor fall 7%

PRE-TAX profits at the Shannon-based holding company for US-owned Mentor Graphics (Holdings) Ltd, fell 7% last year.

Accounts lodged by the US-owned firm with the Companies Office, show the holding company’s pre-tax profits fell to $20.9 million (€15.5m). Turnover decreased 4% from $363.7m to $347.8m in the 12 months to the end of January last year.

The company, which is engaged in electronic design automation, is headquartered in Oregon and employs 4,450 people worldwide.