P.J. CARROLL, the Dundalk cigarette manufacturer which was acquired by Rothmans International in 1991, increased its pretax profit from £2.19 million to £19.28 million in the year ended March 31st, 1995.

This surge arose despite static sales of £196.6 million, according to figures based on data filed in the Companies Registration Office and contained in the latest Private Research journal.

The growth occurred mainly because of a reduction in administrative expenses from £24.1 million to £15.87 million and an exceptional credit of £6.1 million. A spokesman for Carroll would not explain or comment on the figures. Policy, he said, was not to elaborate on the figures, now that it was a private company.

However, the reduced costs are understood to be connected wit Ii the ongoing rationalisation programme. The figures, therefore, probably give a distorted view of trends in the company. The growth in the gross profit, from £28.85 million to £31.8 million was more pedestrian.

Although the group sold Bedford Fair Industries, its former US mail order subsidiary, in 1992, it still has contingent liabilities and in 1994-5 it had to provide £0.77 million against this guarantee arrangement "due to the uncertain financial circumstances of the former subsidiary", according to a note with the accounts.

The tobacco company had provided a guarantee for the working capital bank facility of Bedford to a maximum of $2.5 million (£1.54 million) as part of the management buyout arrangement in 1992.

Carroll employs 260 people. The spokesman would not comment on the group's results for 1995-6 but said its share of the cigarette market was 30 per cent, slightly down on the previous year. Its share this year should be stationary