Threefold rise in profits at mines

Pre-tax profits at Galmoy mines in Co Kilkenny increased almost threefold to €18.9m in 2011.

Accounts show Galmoy Mines Ltd enjoyed the sharp rise in profits after revenues at the firm increased by 170%, from €10.6m to €28.7m, in the 12 months to the end of Dec 31, 2011.

However, in accounts for Galmoy Ltd, the firm’s auditors PWC confirm that “mine extraction activity at Galmoy ceased in late 2012”.