Drop in sales for state-related firms
State agency-assisted companies experienced a drop in sales averaging 8.5 per cent last year, according to a new report from Forfás, writes Dick O’Brien.
Irish-owned companies were hardest-hit, with sales declining by 13.1 per cent, while multinationals saw a sales dip of 7.2 per cent.
Exports from Irish-owned companies moved in line with sales for the manufacturing sectors, falling by 13.7 per cent. However, the services sector continued to grow exports in 2009 by more than 7 per cent.
Manufacturing exports from foreign-owned firms fell by 9.9 per cent, while services exports experienced a smaller decline, dropping by 4.1 per cent.
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