IBM Corp’s Irish unit IBM Ireland Group has finally reported 1993 figures, showing after-tax profits equivalent to $2.3m, down from $6.5m last year, Reuter reports from Dublin. The figures were after $5.8m restructuring charge, which included early retirements payments and property relocation. The company recorded a group revenue of $100.0m, down 5.8%. Managing director William Burgess said 1993 was a very difficult year for the computer industry, and he was pleased the group achieved such a solid performance. Our strong performance allowed us to take the restructuring action necessary to reduce greatly our expense to revenue ratio in 1993 and still record a significant net profit, Burgess said. Business at the international software development laboratory rose 8.3% to $22.6m, and IBM’s international sourcing programme, claimed to support 900 jobs in Irish companies, saw record purchases from Irish companies of $108m, up from $87m.
IBM IRELAND CELEBRATES ABILITY TO MAKE ANY PROFIT AT ALL IN VERY TOUGH YEAR
