Zeus Packaging profits fall by more than 50% to €11.26m

A large factor in the drop in profits was a €11m charge in respect of a creditors' arrangement in connection with a firm, Cima Paper, only purchased by Zeus in June 2023

The owner of Zeus, Brian O’Sullivan, won the 2021 Irish EY Entrepreneur of the Year award. Picture: Darragh Kane

Pre-tax profits at the Brian O’Sullivan-led Zeus Packaging last year decreased by 54% to €11.26m.

The Rathcoole-based global packaging solutions group on the outskirts of Dublin recorded the decrease in profits, as revenues increased by 8% — from €402.3m to €433.63m — on the back of the group’s continuing acquisition strategy.