Procter & Gamble (Manufacturing) Ireland Posts €3.5m Profits
Published on May 20 2014 10:17 AM in A-Brands
Procter & Gamble (Manufacturing) Ireland, a subsidiary of P&G's European division, has announced after-tax profits of €3.49 million for the year to 30th June 2013, according to accounts just filed.
The performance is a marked improvement on a year earlier, when the business posted an after-tax loss of €344k. Procter & Gamble (Manufacturing) Ireland is a manufacturer and distributor of personal care, health and beauty, and oral care products in the P&G portfolio, including products for Oral-B, Braun and Max Factor.
Turnover at the business stood at €92.2 million for the year, up from €87.4 million a year earlier, an increase of 5.5%. Gross profit, at €15.5 million, was almost twice that recorded the previous year (€7.9 million).
Procter & Gamble (Manufacturing) Ireland operates two facilities in Ireland, at Newbridge (personal/oral care) and Nenagh (beauty care), which is the 'strategic hub' for the group's European Colour Cosmetics Production. It closed a facility in Carlow in 2010.
In their report, directors for the business said that the "key risk facing the ongoing business in Ireland is that there are manufacturing locations in lower cost areas, with increasing technical capabilities. Investment in improved processes and technology enables the company to remain competitive in this environment."