PRE-TAX profits at Glen Electric, the Northern Ireland-based division of electrical appliance giant Glen Dimplex, increased last year by 13% to £66.3 million (€77.6m) in spite of a decline in revenues.

THE Competition Authority announced yesterday it has approved the proposed acquisition by Glen Electric Ltd, a Northern Ireland-based wholly owned subsidiary of Glen Dimplex Group, of Applied Energy Holdings Ltd.

GLEN Dimplex, the electrical goods company owned by Martin Naughton, has acquired a British firm Applied Energy Products.