Medtronic sees pre-tax profits drop by 21%

Pre-tax profits at the main Irish subsidiary of one of the biggest employers in the State, US medical device manufacturer, Medtronic last year decreased by 21% to €149.8 million.

Accounts just filed by the company’s main Irish subsidiary, Medtronic Vascular Galway Ltd, show the firm recorded the profit after increasing revenues by 9% from €753.4m to €822.1m in the year to the end of April 29 last.

The prior period was for 53 weeks and numbers employed at the Galway-based firm last year declined from 1,859 to 1,826.