MACHINE-TOOL manufacturer Oglesby & Butler had profits of €800,000 in the 12 months to March 31st, according to its latest figures.
Figures show sales rose by more than 60 per cent to €11.5 million in its 2011 financial year from €7 million in 2010.
The Carlow-based company, which used to be listed on the Irish Stock Exchange, had operating profits of €825,000 in 2011, a 20 per cent increase on the €600,000 it recorded in 2010.
Profits before tax rose by more than 35 per cent to €794,000 in 2011 from €578,000 last year.
The group’s balance sheet shows that shareholders’ funds dipped by 6.5 per cent to €2 million on March 31st from €2.13 million 12 months previously.
Oglesby & Butler was taken over the Kevin and Thomas Anderson-controlled Grove Ventures in 2010 in a deal that valued the previously quoted company at about €4.2 million.
It had been one of the smallest companies listed on the Irish Stock Exchange. The company develops and manufactures hand-held tools used in soldering and welding. Its main markets are in Ireland, Europe and the US.
