| 17.6°C Dublin

Profits rise to €93m at Zimmer's Irish arm


Zimmer's irish unit specialises in constructing artificial knees

Pre-tax profits at the Irish arm of a US orthopaedic device manufacturer rose 3.5pc to $117.39m (€93.74m) last year.

Zimmer worldwide generated 70pc of its global revenues from making artificial knees and hips last year and the firm's Irish unit, based in Shannon, specialises in constructing artificial knees.

Zimmer Orthopedics Manufacturing commenced operations here in 2009 and has grown the number of employees at its base in the Shannon Free Zone to over 300. The increase in profit followed revenues rising 5pc to $250.37m last year.

The accounts just filed with the Companies Office disclose that the firm paid a dividend of $150m to its parent last year.

The directors report says that the firm continued to grow its output during 2013. The directors say that average headcount increased by 7pc with capital investment rising 9pc.

The directors state that the company will continue to increase output in 2014 and expand its capabilities on the site.

The profit for 2013 takes account of non-cash depreciation costs of $6.88m.

The Shannon plant manufactures orthopaedic femoral knees and the figures show that staff costs for 2013 rose from $14.68m to $16.2m.

The staff costs include remuneration for the firm's three directors, Adrian Furey, Fiona Sullivan and Guillaume Genin, which increased last year from $439,254 to $489,751.

Accumulated profits stood at $104.27m last year.

Irish Independent