Mincon records half-year sales of €67m amid ongoing Covid disruption
The drilling manufacturing company reported a 4 per cent increase in pre-tax profits to just under €8 million, although this was mostly due to favourable currency affects
Profits at Mincon, the Shannon-based manufacturer of industrial drilling equipment, fell in the first half of the year as the Covid-19 pandemic drove up operating costs for the group.
Announcing results for the first six months of the year, Mincon reported a 9 per cent drop in operating profits to €7.5 million, as profit margins narrowed from 12.8 per cent last year to 11.2 per cent in the first half of 2021.
The company reported ...