HP’s Irish arm in the red

The expanding Galway unit of computer giant Hewlett Packard plunged into the red last year in spite of a 8% increase in revenues to $279.3m (€212m).

Accounts just filed with the Companies Office show that Hewlett Packard Galway Ltd recorded a pre-tax loss of $12.8m following a $8m pre-tax profit in 2011, a swing of over $20m.

Revenues at the plant increased by $21m, from $258.1m to $279.3m in the 12 months to the end of Oct 31.