Medtronic's Irish profits rise 119% | Wall Street Beat

February 26, 2013 by Brad Perriello

Medtronic's Irish subsidiary posts 119% pre-tax profit growth on a 43% sales increase.

MassDevice.com Wall Street Beat

One of the largest employers on the Emerald Isle, Medtronic (NYSE:MDT), saw its Irish subsidiary's pre-tax profits surge 119% during its last fiscal year, on sales growth of 43%.

The Fridley, Minn.-based medical device company reported profits of €328.9 million (about $430 million) on sales of €1.18 billion (~$1.54 billion) during the 12 months ended April 27, 2012, the Irish Times reported.

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Medtronic Vascular Galway also boosted its head count last year by 3.1%, from 1,826 to 1,882 employees, according to the newspaper.

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