WITH the tobacco industry now under siege in the US and elsewhere, it is hardly surprising that P.J. Carroll, the Dundalk cigarette manufacturer, was reluctant to comment on its annual results this week showing a remarkable £17 million increase in pre-tax profits despite static sales of £197 million.

Now owned by the international group tobacco group Rothmans International, the Irish company is not obliged to elaborate on the results as it is no longer a publicly quoted company. Financial data on the group is filed in the Companies Registration Office.

P.J. Carroll, employing 260 people in Dundalk, said its share of the cigarette market, at 30 per cent, was slightly down on the previous year and little change is expected this year. Rising profitability reflects the continuing rationalisation programme, with the £8 million saved on administrative expenses swelled by an unexplained exceptional credit of £6 million. Gross profit, which improved from £28.8 million to £31.8 million, provides a more realistic yardstick of trading at the operating level.