Pre-tax profits at Chanelle Pharmaceuticals increased by 35.5% last year to €17.19m.
New accounts filed by the Co Galway-based veterinary product company show that revenues at Chanelle Pharmaceuticals Manufacturing Ltd rose 24%, from €66.69m to €82.6m, in the 12 months to the end of April.
The business made a dividend payout of €10m last year and this followed a dividend payout of €2.25m in the prior year.
The directors state that "trading since the start of the new financial year has been encouraging. The outlook remains positive with strong market demand for our products and delivery pipeline".
The directors say that they remain confident "in our future growth prospects".
They state that numerous marketing authorisations for product approvals have been achieved throughout the year as well as a number of licence and supply agreements.
They state "although none are material in their own right, they all strengthen the existing portfolio".
The directors stated that they have undertaken a group reorganisation project to simplify its structure and the reorganisation was ongoing at the date of approval of the financial statements.
Numbers employed by the Michael Burke-founded company increased from 354 to 390, as staff costs increased from €14.86m to €18.29m.
The company is one of a number of pharma entities owned by the Burke family and the main activity of Chanelle Pharmaceuticals Manufacturing Ltd is the manufacture and sale of veterinary and medical pharma products worldwide, together with associated research and development.
The profit also takes account of non-cash depreciation costs of €2.7m and research and development costs of €2.55m.
Shareholder funds at the end of April 30th totalled €17.69m that included accumulated profits of €15.4m.
The company's post-tax profit last year was €14.9m after paying corporation tax of €2.2m
Directors' pay last year decreased from €404,025 to €348,712. Key management personnel were paid €1.45m
A breakdown of the company’s revenues show that it generated revenues of €35.5m in the Republic, €39.17m in Europe and €9.9m in 'rest of world’.
The company last year paid €3.69m to acquire property, plant and equipment and this followed a pay-out of €2.8m under that heading in fiscal 2021.
