Profits fall at Cork Chamber but city ‘resilient’

CORK Chamber saw its pre-tax profits fall 33% to €65,329 last year but it said Ireland’s second city is showing strong resilience economically.

Turnover at the Chamber rose from €1.3 million to €1.4m, according to its latest annual report.

Bord Gáis chief executive John Mullins is expected to be elected president of the chamber at its AGM next month and once in office he will appoint a vice president.

In the annual report, Cork Chamber president Ger O’Mahoney said 2010 was not an easy year but he said the chamber has emerged at the end of it still standing and that is testament to the quality and innovation that is present in the business community in Cork.

“It is this quality and innovation that will ensure the Cork region goes from strength to strength as a business hub,” he said.

According to the annual report the chamber employed 15 people at the end of last year, up one from the previous year.

Chief executive Conor Healy said that in line with economic conditions the economic environment in the Cork region continued to prove difficult throughout 2010.

“The multinational sector in the region continues to go from strength to strength with new companies establishing in Cork and existing operations expanding and broadening the range of activities being undertaken.

“On the whole, the Cork region is showing strong resilience economically and if appropriate policy measures are taken nationally we will be well positioned to benefit from an international upturn over the coming years,” he said.

The 192nd annual general meeting of the Cork Chamber will be held on May 9.