Superglue Irish firm racks up profits of €40 million

An Irish firm owned by Superglue maker, Loctite, has accumulated profits of almost €1 billion, despite having no direct employees, writes Gavin Daly.

2nd May, 2009

An Irish firm owned by Superglue maker, Loctite, has accumulated profits of almost €1 billion, despite having no direct employees, writes Gavin Daly.

Loctite (Overseas), a Dublin based investment firm, made a profit of almost €256 million in 2007 alone, after a significant increase in its activities. The company had investment income of €326.3 million in 2007, and also made a €38.4 million profit on the disposal of financial assets.

After impairment charges, the firm made a...

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