Irish arm of Renault sees profit fall 3% despite revenue increase

Pretax profit at the Irish arm of Renault last year fell 3 per cent to €2.25 million despite an increase in revenue.

In new accounts filed by Renault Ireland Ltd, the directors state that 2018 was a very positive year where the group saw strong sales across the Renault and Dacia range. The Dacia brand increased its market share to 2.9 per cent, they said.

Renault was ranked fifth in the Irish car market and third in the light commercial vehicle market, with market shares of 8.6 per cent and 13.9 per cent respectively.

Overall, the group had 9.5 per cent of the motors market, ranking it fourth.

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“The Irish car market continues to be vulnerable to movements in the exchange rate with sterling,” the directors said. “UK imports continue to pose a threat to the domestic market.”

Turnover was 4 per cent higher at €217.4 million. A breakdown of revenues show it generated €198.89 million from the sale of vehicles and €18.5 million from spare parts.

The company employs 29 people.