Jaguar Land Rover's Shannon-based R&D arm 'can become central hub'

Their accounts show that pre-tax profits reduced by 36% to €7.65m in the 12 months to the end of March last

Numbers employed at the company reduced from 251 to 240 but staff costs increased to €18.97m.

The directors of Jaguar Land Rover's Shannon-based R&D arm said the location "can become a central hub for the overall JLR global software strategy”.

That is according to new accounts for Jaguar Land Rover Ireland (Services) Ltd which show that pre-tax profits reduced by 36% to €7.65m in the 12 months to the end of March last. The drop in pre-tax profits came in spite of revenues increasing by €2.9m, or 12%, from €24.9m to €27.9m.