Profit at electronics manufacturer Flextronics International Ireland fell in 2024, new accounts filed by the company show.
But almost $29 million was paid in dividends in 2024, after paying no dividends in the previous year.
Pretax profit at Flextronics International Ireland in the year to March 31st 2024 was $3.4 million, down from $5.3 million in the previous financial year.
Turnover for the 12 months was $52.7 million, falling from $75.3 million in 2023. Profit after tax was $4.1 million, lower than the $5.8 million recorded in the previous year.
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The company paid $453,201 in Irish corporation tax, up from $216,053 it paid in 2023. However, the 2023 figure included adjustments made in respect of previous periods, and losses utilised, which reduced the tax bill.
Net current assets were $10.9 million, compared with $36.3 million a year earlier.
The company had 191 staff at the end of the period, with the bulk of those employed in production and administration. Staff costs were slightly higher year on year, coming in at $11.05 million compared to $10.1 million the year before. Wages and salaries accounted for $9.7 million, with social security costs and other retirement benefits comprising the rest.
Flextronics International Ireland is part of the global multinational Flex, which has operations in Europe, the US and Asia. The Irish arm of the business has operations in Cork, Limerick, Louth and Leitrim.
It employs more than 140,000 people globally, designing and engineering solutions for its customers, manufacturing products such as thermal components, flexible circuits and critical power for industries that span data centres, healthcare, cloud and automotive.
