Tegral hit by 23pc fall in pre-tax profits
Pre-tax profits at building products firm Tegral reduced by 23pc to €1m in 2015.
This followed revenues at the firm decreasing from €37.14m to €36.65m in the 12 months to the end of December 2015.
The Co Kildare based firm specialises in the sale of roofing and cladding products. The directors' report states that the sales drop for the year was due mainly to reduced inter-company demand from the UK. Numbers employed by the firm in 2015 increased from 127 to 135.
Staff costs in 2015 increased from €7.19m to €7.52m. The amount paid to directors increased from €307,502 to €351,405. The profit in 2015 takes account of non-cash depreciation costs of €927,284.
The company's operating profits declined by 67.5pc going from €1.24m to €407,853. However, the firm realised exceptional income of €666,240 as a result of a write off of monies payable on the liquidation of group companies.
Almost two-thirds of sales were in Ireland in 2015 at €22.5m with €13.9m exported to Europe.