Qualceram Shires report 60% jump in profits

Ceramics manufacturer Qualceram Shires said its full year performance was satisfactory with pretax profit rising 60 per cent to €5.7 million.

However, the company warned it may incur a "significant" one-off restructuring cost this year as the group is starting an extensive review of its supply chain.

Year-end gearing at the company was reduced to 44.7 per cent from 67 per cent.

The bathroom suite manufacturer said it expects improved underlying results in the coming years.

Qualceram said demand for its products in Ireland was stable, but the UK market was more challenging.