Profits climb at Cook Ireland

Pre-tax profits at one of the largest employers in the midwest, medical devices firm, Cook Ireland more than tripled to €20.1m last year.

New accounts filed by the Limerick-based Cook Ireland Ltd show that the company revenues increased slightly to €572m.

The directors said in the accounts that sales had held up well despite pressure on healthcare budgets in many countries.

Staff numbers increased from 945 to 983 people, with staff costs increasing from €45m to €47.4m.

Directors’ pay fell from €420,062 to €418,266 last year.

There are 484 people working in administration, 286 in ‘direct’ manufacturing and 105 staff in ‘indirect’ manufacturing roles. The company services customers globally.

The profits take account of non-cash depreciation costs of €7.1m and research and development costs of €6.4m.

The company last year paid dividends of €224,000 to Cook Netherlands.

Its cashpile fell from €121.4m to €90.6m.

The company’s cost of sales last year totalled €414m resulting in a gross profit of €158m.