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| TCH Archives > Sunday Business Post > 2005/12/18 > Top 100 companies make €20bn | ||
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Sunday, December 18, 2005 - By Neil Callanan
The country's 100 most profitable companies made profits of almost €20 billion in their most recent financial year.
Round Island One, the Microsoft company that licenses the company's software for Europe, the Middle East and Africa, is by far the most profitable company in the country, making a profit of €3.2 billion for the year to June 30, 2004.
The other companies in the top 10 are Janssen Pharmaceutical, AIB, Intel Ireland, Bank of Ireland, CRH, Anglo Irish Bank, Oracle EMEA, Forest Laboratories and Irish Life & Permanent.
Those nine companies recorded a combined profit of €8.78 billion. The information was compiled by the Sunday Business Post and publishing company BusinessPro.
The banks are among the most profitable companies. The main Irish banks - AIB, Bank of Ireland and Anglo Irish Bank - account for 17.35 per cent of the profits made by the top 100 companies.
The most profitable company to be established in Ireland is Ryanair Holdings which made a profit of €298 million in the year to May 31, 2005.The most profitable private company on the list is the Quinn Group, which was set up by billionaire Sean Quinn.
It made a €221.1 million profit last year.
Many of the companies to emerge on the list are little-known companies with few employees and are based in the International Financial Services Centre (IFSC) in Dublin.
Many of these companies are treasury operations for multinational business who avail of Ireland's low corporate tax rate.
The figures also show that the top 100 most profitable companies employ around 250,000 people.
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