Profits at Altera’s Irish arm rise 82%

PRE-TAX profits at the Cork-based Irish arm of the US-owned Altera Corporation increased last year by 82% to $22.4 million (€16.5m), figures show.

According to accounts recently filed with the Companies’ Office, Altera European Trading Company Ltd increased profits after revenues nearly doubled to $804.1m.

The $804m in revenues last year represent 42% of the corporation’s global revenues of $1.9bn in 2010. The company established its European Shared Services Centre at the Cork Airport Business Park in 2004 and the site is the administrative centre for the company’s European region sales and Japanese sales.