HP returns to profit

The Galway-based unit of computer giant Hewlett Packard (HP) returned to profit last year in spite of a 26% drop in revenues to $258.1m.

Accounts just filed with the Companies Registration Office show that Hewlett Packard Galway Ltd recorded a pre-tax profit of $7.8m (€6.2m) following a $12.57m loss in 2010 — a positive swing of $20.3m.

The figures show that revenues at the firm dropped by $94.9m from $353m to $258.1m in the 12 months to the end of Oct 31 last.