NI manufacturing: Almac and Thompson Aero Seating post profit rises
- Published
Almac more than doubled pre-tax profits to £23m in the year ending September 2015
Two of Northern Ireland's most successful manufacturers have reported significant jumps in profits.
The latest accounts of the two Craigavon based firms, Almec and Thompson Aero Seating, display the positive figures.
Almac, a pharmaceutical firm, more than doubled pre-tax profits to £23m in the year ending September 2015.
Thompson Aero Seating saw pre-tax profits rise by 27% to almost £14m in the year ending March 2016.
Some parts of Northern Ireland's manufacturing sector have been under pressure, with a succession of job losses over the last year.
'Encouraging'
Almac's turnover increased from £342m to £394m and staff numbers grew to more than 3,500.
It said a significant factor underlying the increased profit was the receipt of $20m (£14m) relating to the licensing of oncology and diagnostic test products.
The company mainly provides services to other pharmaceutical firms, but is increasingly focused on developing its own products, mainly in cancer diagnostics.
Thompson Aero's increased profit was achieved on a turnover of £65m which the firm described as "encouraging".
The firm, which specialises in business class aircraft seats, has grown rapidly over the last five years.
It counts Aer Lingus, Quantas and Air Canada among its customers.