Software firm’s profits rise to €7.3m

Pre-tax profits at Shannon-based multinational Mentor Graphics (Ireland) increased by 4% to $9.6m (€7.3m) in its last financial year.

Recently filed accounts for the US-owned software firm show a 27% rise in revenues — from $376.9m to $478.2m — in the 12 months to the end of Jan 2012.

The figures show that the firm’s tax bill went down from $3.1m to $1.6m in spite of the increase in revenues and profits.