Pre-tax profits at Hollister, one of the largest and longest-established US multinational firms in Ireland, dipped marginally to €22.2m last year.
New consolidated accounts filed by the medical device manufacturer show that while the group recorded the slight decrease in profits, revenues increased from €330m to €332m.
That’s according to today’s Irish Independent.
Hollister is a global leader in ostomy, continence, wound care and critical care products and its Irish base is in Ballina.
Last July, Hollister announced an €80m research and development investment and a digital transformation project that will create an additional 50 jobs in Ballina.
Founded in 1921 in Illinois, next year the US medtech manufacturer will mark 50 years of operating in Mayo, with second and third generations of families now employed at the plant.
Staff costs last year increased from €91 m to €99m.
The accounts state that the outlook for 2025 is for continued growth in both ostomy and VaPro businesses and this will arise from new product introductions and product launches.
At the end of December last, shareholder funds totalled €266 m that included accumulated profits of €249 m.
In July, the pharmaceutical giant announced it is to add 50 new jobs at the Ballina plant as part of an €80m investment. The company promised a research and development investment and a digital transformation project that will “elevate Ballina into a global epicentre of expertise”. The project is supported by the State through IDA Ireland.
Hollister exports to 70 countries and also has plants in Lithuania, India, Denmark as well as two in the US.