Kentech hit by $7.79m losses in 2012

The Cork-headquartered Kentech engineering group last year plunged into the red to record pre-tax losses of $7.79m (€5.75m).

Staff numbers increased by 647 to 3,199, but despite the growth in business — revenues were up 5% from $115.96m to $121.7m — the directors say they “are very disappointed with the results for 2012”.

Last year’s loss followed a pre-tax profit of $9.47m in 2011.