Pre-tax profits take a hit at software firm

Pre-tax profits at the Cork-based Irish arm of the US-owned Altera Corporation last year decreased by 4.5% to $21.4m (€16.7m), new figures show.

Accounts recently filed with the Companies’ Office show that profits reduced at Altera European Trading Company Ltd in spite of revenues increasing by 3.2% from $804m to $829.9m in the 12 months to the end of Dec 31, 2011.

The company established its European Shared Services Centre at the Cork Airport Business Park in 2004 and the site is the administrative centre for the company’s European region sales and Japanese sales.