Medical devices firm sees profits soar to €38.2m

PRE-TAX profits at the Irish arm of US medical device manufacturer Cook almost tripled to €38.2 million last year.

Accounts just filed by Cook Ireland Ltd to the Companies’ Office show that strong sales growth resulted in revenues rising by 13% from €168.5m to €190.4m in the 12 months to the end of December last.

The chief factor behind the increase in pre-tax profits was a one-off payment of €15m from the sale of intellectual property assets to a group company.