Manufacturer sinks into the red after revenues fall

The main Irish unit of the US-owned electronic component manufacturer, Molex went into the red last year as revenues fell by 10% to €51.5m.

Accounts just filed with the Companies Registration Office by Molex Ireland Ltd show the company recorded a pre-tax loss of €1.19m, following the firm recording a pre-tax profit of €4.9m in the 12 months to the end of June 2011.

The figures show that revenues at the Shannon-based firm declined from €62.2m to €51.5m last year.