Business Irish

Saturday 24 February 2018

Servier doubles profits here to €48m

Gordon Deegan

PRE-TAX profits at the main Irish unit of French pharma giant Servier more than doubled last year as revenues topped €550m.

Accounts show that the Co Wicklow-based firm enjoyed a 106pc increase in profits to €48.4m. Revenues increased by 25pc from €443.4m to €553.5m in the 12 months to the end of September.

Numbers employed by the firm's Arklow plant increased from 392 to 409 last year.

The main activity of the group continues to be the manufacture of pharmaceutical products.

The directors state: "During the year, sales increased significantly from the previous year. This increase was driven by increased production as a result of additional production facilities available to the group and also as a result of increased shipments to Bulgaria and Romania."

Directors approved a dividend pay-out last year of €20m – the same as in 2011.

The firm's tax bill was €5.9m and the figures show that after the post-tax profits of €42.5m and dividend pay-out, the firm's accumulated profits increased marginally to €208.4m.

Last year, Servier's Arklow site received a boost following the European Medicines Agency giving approval for the drug Procoralan to treat patients suffering from chronic heart failure.

Servier employs 20,000 worldwide and last year had global revenues of €3.9bn with 25pc of its turnover invested in research and development.

Irish Independent

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