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CRH retains position as the largest company in Ireland

Written by Robert McHugh, on 23rd Jun 2017. Posted in General

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CRH has retained its position as the largest company in Ireland with a 15% rise in turnover to €27.1bn according to The Irish Times Top 1000 2017 survey, which is published today. 
 
The Top 1000 is the definitive database of the largest companies in the country, both north and south. Compiled and verified by The Irish Times’ business team, it is published once a year.
 
According to the survey, the vast majority of Top 1000 companies are continuing to get more profitable. On a net basis the profits of Ireland’s leading companies rose to €34bn, up from €28bn in 2016 and €22.4bn in 2015. 

Medtronic added almost €300m to its profits in 2017, which means it continues to hold the title of Ireland’s most profitable company, a massive €4.1bn, comfortably ahead of the Central Bank in second place on €2.3bn and the Eaton Corp on €1.9bn. Google moved up one space to third on €22.6bn while Microsoft slipped two places to fourth.

Eaton Corp, DCC, Allergan, Ingersoll-Rand, Dell Ireland and Oracle – which replaces Apple Ireland - complete the top ten.
 
At the other end of the scale the entry level for this year’s survey rose to a minimum turnover of €18m, up from €17m last year and €15m in 2015, indicating that the scale of business in Ireland is growing. Overall, The Top 1,000 companies reported gross sales of €489bn in their most recent financial year – that’s about €1.1m per employee. To put this in context Ireland’s GDP in 2016 was €262bn.
 
Oil exploration company Tullow Oil reported the biggest loss, €833m while Argos (€153m) and Roche (€133m) also feature on that list. Argos, Harvey Norman and Homebase are just some of the retailers to post losses in this year’s survey while a host of others including Eason, Tesco and Fields Jewellers saw their sales fall.
 
While the IDA and the industry itself may be assiduously working on attracting financial services companies looking for a European Union hub post-Brexit, their efforts have yet to trickle through in any significant way to the ranking of Ireland’s largest financial services companies. Indeed this year’s ranking of the country’s Top 80 financial services companies features no new names.
 
Source: www.businessworld.ie 

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