StageAcquired | Acquired
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Latest Athlone Extrusions News
Aug 4, 2017
Plastics company suffers almost €1m swing in forex dealing as sterling weakens 56 minutes ago Sterling weakness hit profits at plastics group Athlone Extrusions. Photograph: Jimmy McGee Athlone Extrusions , the plastics manufacturer once part of Sean Quinn’s business empire, saw profits slip slightly last year despite a 3 per cent growth in sales. The company, which was acquired this year by Swiss rival Schweiter Technologies in a €48 million deal, made a pre-tax profit of €5.46 million in 2016, according to accounts just filed at Companies Office. That was just over 6 per cent less than the €5.76 million profit recorded in 2015. The company suffered a €548,000 loss on foreign exchange transactions compared with a gain of €437,000 the previous year. Much of that relates to sterling’s post-Brexit weakness as the UK accounts for a large portion of sales. Athlone Extrusions had previously disclosed sales of €63.67 million last year, up from €61.6 million in 2015. Ireland accounts for just over 11 per cent of sales, with the balance split evenly between the UK and other markets. The company spent close to a quarter of a million euro on restructuring costs in the 12-month period, nearly twice as much as the €129,000 spend in 2015.
Athlone Extrusions Frequently Asked Questions (FAQ)
Where is Athlone Extrusions's headquarters?
Athlone Extrusions's headquarters is located at Grace Road, Athlone.
What is Athlone Extrusions's latest funding round?
Athlone Extrusions's latest funding round is Acquired.
Who are the investors of Athlone Extrusions?
Investors of Athlone Extrusions include Schweiter Technologies.
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