Wednesday 28 September 2016

Med-tech firm pays tax of €6.7m on €1bn sales

Gordon Deegan

Published 27/07/2015 | 02:30

The Irish division of medical technology firm Becton Dickinson increased pre-tax profits by 64pc last year
The Irish division of medical technology firm Becton Dickinson increased pre-tax profits by 64pc last year

The Irish arm of medical technology firm Becton Dickinson last year paid corporation tax of €6.7m on revenues of €1.19bn.

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According to accounts just filed by the US-owned Benex Ltd to the Companies Office, pre-tax profits at the firm increased by 64pc to €52.7m.

This followed revenues increasing from €1.17bn to €1.19bn in the 12 months to the end of September 30, 2014.

The firm has its Irish operations in Dun Laoghaire, Dublin and acts as Becton Dickinson's "regional distribution and logistics platform for Europe".

The turnover recorded by the Irish subsidiary of the US medical group represents 15pc of the corporation's global revenues of $8.4bn (€7.65bn) last year.

According to the directors' report "the company had a solid year with modest growth in key areas. Turnover grew by 2pc over the prior year with the EMEA region performing strongly.

"The cost of sales increased year on year by 1pc, which meant that gross profit margin increased to 9pc as against 8pc in the prior year."

The directors state that interest charges were lower due to lower market rates on the company's loans.

The company made dividend payments of €53m in 2014 and this followed dividend payments of €60m in 2013 and €678m in 2012.

The Irish unit employs four people who are engaged in administration and finance with staff costs totalling €351,000 for the year.

The firm was previously based in Shannon and first incorporated in Ireland in 1979. The vast bulk of the firm's goods are sold in EU countries, accounting for €1bn in sales last year, with €62m sold to non-EU countries and €88.54m to other European countries.

Irish Independent

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