Pre-tax profits grow 217% at Pinewood Laboratories

Pre-tax profits at pharmaceutical firm Pinewood Laboratories last year increased more than threefold to €4.9m, new figures show.

Accounts recently filed by the Clonmel-based Pinewood Laboratories Ltd show that the firm increased its pre-tax profits by 217% from €1.57m to €4.98m in the 12 months to the end of Mar 31 2011.

The figures show that revenues at the firm declined by 15% from €71.3m to €60.3m. However, the prior period was for 15 months.