Norbrook Laboratories: Newry pharmaceutical firm grows turnover by 8.5%
Wednesday, March 02, 2016
Norbrook Laboratories, the pharmaceutical firm based in Newry, County Down, grew its turnover by 8.5% to £216m last year.
Pre-tax profits were steady at £22m, while employee numbers grew by about 100 to 2,152.
The firm specialises in veterinary medicines and is one of Northern Ireland's biggest exporters.
'Buoyant'
However, the weak euro hit sales in mainland Europe.
During the financial year, Norbrook sold its investment in Cumberland Breweries to the US-based firm Alltech.
The group has also completed a restructuring exercise to remove non-veterinary pharmaceutical assets from the group balance sheet.
Liam Nagle, the chief executive, said the animal health industry is "buoyant" and the firm has "a strong pipeline of new products under development".
Norbrook was founded by Lord Ballyedmond who died in a helicopter crash at his estate in Norfolk in 2014.
His family continues to own the company.
Source: bbc.com
