C&F profits slide 7% to €6.3m

Pre-tax profits at Galway manufacturing group C&F Tooling fell 7% last year to €6.3m.

Newly filed accounts for the company show that the group sustained the dip in profits in 2011 despite revenues increasing by 20% to €92.6m.

The numbers employed at the group rose from 882 to 1,053 last year, with staff costs going up by 26% to €22.7m. Last July, the company announced the creation of 145 jobs over the coming three years.