Celtic Linen sees sharp fall in profits

Pre-tax profits at the Celtic Linen Group decreased sharply last year after revenues dropped by 2% to €22.6 million.

The Wexford-based group increased the number it employs to 371 last year, and accounts just filed by Celtic Linen Services Ltd and subsidiaries show that the group’s pre-tax profit declined by 85% from €101,734 to €15,000 in the year to the end of February last.

This followed revenues declining from €23.1m to €22.6m.