Bathroom products maker Qualceram Shires has reported pre-tax profits of €5.7m for last year, up 60% on the previous year, with sales up 4% to €98.2m.
Earnings per share climbed by 73% to 24 cent, while a 9.5% higher full-year dividend of 5.75 cent has been declared.
Chief executive John O'Loughlin said the performance was achieved in the face of stiff competition from Asia, a weakening UK housing market and rising energy and utility costs.
The sale of the group's Hanley site raised an exceptional profit of €4m. Excluding this pre-tax profits more than doubled to €4m. The company slashed its debt, resulting in lower interest charges.
Qualceram said demand for its products in Ireland was stable, but the UK market was more challenging. The company said it would carry out a review aimed at cutting costs in the UK, which may result in a 'significant' once-off restructuring charge this year.
Sales in Ireland rose from €40m to €41.6m, while UK sales were up from €49.5m to €51.2m.
