Stent withdrawal sees profits plunge 92% at Cook

The global voluntary withdrawal by medical device manufacturer Cook of one of its vascular stents last year contributed to pre-tax profits plummeting by 92% to €1.48m at its Irish base.

Cook Ireland Ltd is one of the largest employers in the west of Ireland, employing 795 at its Limerick base, and new figures show that pre-tax profits last year reduced from €17.8m to €1.48m.

The sharp decrease came in spite of revenues increasing by just under 5%, from €430.7m to €450.8m in the 12 months to the end of December last.