herald

Wednesday 16 August 2017

Mincon profits fall to €10.3m

Operating profits at Irish mining supplies firm Mincon tumbled 31pc last year to €10.3m as it continued to feel the impact of a challenging resources environment.

Revenue at the firm, which designs and manufactures rock drilling tools for the resources industry, rose 4pc to €54.5m.

Despite the profit decline, the results were in line with analyst expectations. Shares in Mincon, which made its stockmarket debut in 2013, dipped slightly yesterday to about 61 cent.

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