Tuesday 18 December 2018

Profits rise by 7pc at medical firm Cook

New accounts filed by Limerick-based Cook Ireland Ltd show that revenues increased marginally from €564.79m to €565.m (stock picture)
New accounts filed by Limerick-based Cook Ireland Ltd show that revenues increased marginally from €564.79m to €565.m (stock picture)

Gordon Deegan

Pre-tax profits at medical device firm Cook Ireland increased by 7pc to €5.87m last year.

New accounts filed by Limerick-based Cook Ireland Ltd show that revenues increased marginally from €564.79m to €565.m.

The directors said the business had a target in 2017 to grow sales, despite ongoing pressure on healthcare budgets in many countries.

The directors said that realignment and investment undertaken at the firm will ensure that it is well positioned for growth. Numbers employed last year increased from 935 to 945 with staff costs going up from €43.32m to €45m.

The company has a large customer base in western Europe and also exports to distributors in Eastern Europe, the Middle East and Africa. It also supplies products to the North and South American and Asia-Pacific markets.

A breakdown of the numbers employed show that 484 were in administration, 271 in direct manufacturing, 105 in indirect manufacturing, 51 in engineering and 34 in management and sales representatives.

Directors' pay last year increased from €401,350 to €420,062. The profits take account of non-cash depreciation costs of €6.8m. The company last year paid dividends of €434,000 to Cook Netherlands BV.

Irish Independent

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