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Profits down but production up at Alcon

Wednesday, September 12 08:55:50

Production is ramping up at the Cork-based Alcon Laboratories as the firm reports a decline of 16.5pc last year in pre-tax profits to E2.3m. According to accounts filed with the Companies Registration Office, revenues at Alcon Laboratories Ltd increased by 7pc from E28.4m to E30.4m in the 12 months to the end of Dec 2011.

The principal activity of the firm is the manufacture of intraocular lens (IOLs). IOLs are used to replace the natural lens that is removed during cataract surgery. The directors explain that "IOL demand is based on medical need as induced by the removal of a cataract." "The company will continue to develop its IOL product and expand its market. The company is presently experiencing a product ramp up, which is expected to continue in the medium term."

The report states that "the directors are satisfied with the performance of the company during the year". Shareholder funds at the firm last year increased to E11.1m, including E4.5m in accumulated profits. Operating profits last year decreased from E3.13m to E2.94m. The directors state: "The decrease reflects changes in product mix and cost recovery."