Redundancy costs hurt P&G’s Irish profits

Redundancy costs at the main Irish arm of consumer healthcare giant, Procter & Gamble last year contributed to pre-tax profits decreasing by 9% to €11.8m.

According to accounts just filed by Procter & Gamble (Manufacturing) Ireland Ltd, the company sustained the decline in profit in spite of revenues increasing marginally from €92.17m to €93.3m in the 12 months to the end of June last. The directors state that “operational results for the year were satisfactory”.

The figures show that the firm made a provision of €1.6m towards redundancy costs at the firm’s Newbridge facility due to changes in headcount as a result of productivity requirements.