CorkProduction is being ramped up at Cork-based Alcon Laboratories Ltd as the firm reports a decline of 16.5 per cent in pre-tax profits to €2.3 million last year.
New accounts with the Companies Office show Alcon increased its workforce from 300 to 341, with revenues up 7 per cent from €28.4 million to €30.4 million in the 12 months to the end of December last.
The firm’s principal activity is manufacture of intraocular lens (IOL), used to replace the natural lens removed during cataract surgery. The directors say the company is “experiencing a product ramp-up, which is expected to continue in the medium term”.
Shareholder funds last year increased to €11.1 million, including €4.5 million in accumulated profits. Operating profits last year decreased from €3.13 million to €2.94 million. The directors state: “The decrease reflects changes in product mix and cost recovery.”
The firm’s cost of sales last year rose from €25.3 million to €27.5 million. A major contributor to the drop in pre-tax profits was interest payments totalling €629,076 compared to €363,554 in 2010.
