PROFITS DOWN AT MEDTRONIC GALWAY

Date Published: 17-Feb-2012

Pre-tax profits are down at Medtronic Galway.

According to today's Irish Times, pre-tax profits at the Parkmore facility slipped by more than a fifth last year to just under 150 million euro.

Directors at Medtronic say the drop in profits was driven by an 11 percent increase in operating expenses.

Adverse foreign exchange was another contributing factor to the decrease in pre-tax profits, despite an increase in turnover last year.