Pre-tax profits at the Irish arm of pharmaceutical company Servier Industries more than doubled to €21.3 million last year.
Accounts for the Co Wicklow based t manufacturer show that the 103 per cent increase in profits came as revenues dipped by 2 per cent from €622.36 million to €610 million in the 12 months to the end of September last.
According to the directors’ note with the accounts , revenues decreased from 2020 due mainly to the loss of patents but that sales volumes remained consistent year on year.
The French owned firm state that exports to Ukraine represented around 3 per cent or €17.2 million of overall revenue in 2021 and sales to Ukraine were temporarily suspended due to the situation there following the Russian invasion in February.
The note said that shipments to Ukraine recommenced in April.
Numbers employed increased from 376 to 380 and staff costs last year totalled €25.83m.
The firm last year paid an interim dividend of €20 million. A dividend of €50 million was paid in 2020.
The profit last year takes account of non-cash depreciation costs of €6.75 million. The firm recorded a post tax profit of €18.6 million after paying corporation tax of €2.6 million.
The directors state that the company expects to retain its sales volume and maintain its financial performance in the coming year.
