Hewlett Packard reports 24% rise in turnover

HEWLETT Packard has reported a 24 per cent rise in its turnover in Ireland to £48 million for the year to the end of October.

The group, which plans to create 1,150 new jobs over the next three years at its printer cartridge factory in Leixlip, Co Kildare, employs 600 people.

Announcing its results yesterday, Hewlett Packard's managing director Ireland, Mr Brian Keenan, said the first inklet cartridges have gone into production at its new manufacturing at Leixlip, where the new jobs are to be created.

Commenting on the company's performance this year, Mr Keenan said business had slowed in some sectors during the summer months but this had now recovered. Other aspects of its business, particularly the measurement side, including medical and chemical analysis, had however, enjoyed a year of solid growth.

Hewlett Packard's parent company reported a 6 per cent increase in after tax profits to $2.6 billion (£1.55 billion) for the 12 month period, up from $2.4 billion (£1.43 billion) in the 1995. Turnover for the entire group rose by 22 per cent from $31.5 billion (£18.8 billion) to $38.4 billion (£22.9 billion).

The group said orders increased by 15 per cent on the previous year.

Commenting on the latest figures, Hewlett Packard's chairman. and chief executive, Mr Lewis Platt, said that while it was encouraged by the growth in orders, particularly in the fourth quarter of its financial year, it was somewhat disappointed with its profits.