Business Irish

Monday 23 January 2017

Manufacturing sector takes a hit

Published 11/11/2011 | 05:00

THE growth in the manufacturing sector shrank to almost nothing in September, according to new figures from the Central Statistics Office.

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On an annual basis, manufacturing output was up just 0.2pc in September following a year-on-year rise of 13.3pc in August. In the first nine months of 2011, output was 1.8pc higher on average than January-September 2010.

Ormonde reveals positive drill results

MINING

ORMONDE Mining, an Irish mining company with operations in Spain, said drill results from its flagship tungsten project near Salamanca continued to confirm good commercial grades and widths. Shares rose in Dublin yesterday as the company revealed results from the final seven holes in its infill drilling programme at Barruecopardo.

Profit doubles to €1.9m at Pinewood

PHARMACEUTICALS

PINEWOOD Laboratories, the Tipperary-based pharmaceutical firm, more than doubled its operating profit in the last financial year to €1.9m. The company is owned by Indian firm Wockhardt, which acquired the Irish firm five years ago.

Pre-tax profit down by 32pc at Galmoy

MINING

PRE-tax profits at Galmoy mines in Co Kilkenny last year decreased by 32pc to €6.3m as revenues tumbled by 60pc, new figures show. Production at the mine was due to cease in June 2009 due to the fall in the price of zinc. However, the mining operation got a late reprieve due to the price of zinc climbing significantly. Revenues at Galmoy Mines Ltd last year dropped by 60pc from €26.4m to €10.6m.

Irish Independent

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