Novell Irish pre-tax profits hit €23.9m

The performance of the Irish arm of software firm, Novell Software, continued to improve last year recording pre-tax profits of $32.3m. (€23.9m)

Accounts just filed with the Companies Registration Office show the firm recorded the profits in the five months to the end of March last year.

This compared to $54.6m in the 12 months to the end of October 2011.

According to the accounts, the increase in the rate of profit “is primarily due to increases in operating profit and savings on restructuring costs versus prior year”.

The rate of generating revenues also increased in the five month period to the end of March 2012 with the firm generating an income of $122.3m compared to $287.8m over the preceding 12 months.

The company acts as the principal for the Novell group operations in the Europe Middle East and Africa territories.

The firm employs 104 people at its Dublin base and the directors’ report confirms that since year end the firm has received loans totalling $170m from Novell.

Novell Software lodged the accounts for the five-month period to align its accounting period with its new parent, the Attachmate Group that purchased Novell in April 2011.

The directors state that turnover for the period was in line with revenues from the prior period and “there are no significant increases in forecast revenues for 2013”.