Monday 21 April 2014

Pre-tax profit of €573m for UCB

Shannon-based pharmaceutical firm UCB Manufacturing Ireland recorded pre-tax profits of €573.7m in 2011.

Accounts filed with the Companies Office show that the chief factor behind the company returning to profit was an exceptional gain of €651m after a debt of that amount due to parent company, Belgian-based UCB, was waived.

The figures show that the Irish unit – formerly Schwarz Pharma – increased its turnover by 11pc to €90.2m in the 12 months to the end of December 2011.

In 2011, the numbers employed by the firm were reduced from 126 to 118, with the company's staff costs increasing from €9.6m to €9.8m.

The profit in that year follows a pre-tax loss of €71.9m in 2010.

The profit in 2011 also takes account of non-cash depreciation and amortisation costs totalling €21m.

According to the directors' report, "turnover continued to grow in 2011 with an overall increase of 11pc to over €90m due mainly to continued growth of Neupro in new and existing markets."

Neurpo is used to treat Parkinson's disease and Restless Leg Syndrome.

Irish Independent

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