Tool manufacturer Oglesby & Butler recorded a 17.4 per cent increase in its turnover in 2017, the latest accounts filed the Companies Office show.

The Carlow-based company, which used to be listed on the Irish Stock Exchange, more than doubled its profit for the financial year to €160,671, partly as a result of a tax credit of €54,803 compared to a tax charge of €18,491 the previous year. Pretax profits rose 17 per cent to €105,868.

Hand tools

The firm develops and manufactures gas-powered hand tools used in soldering and welding, as well as herbal vaporiser products. It employs 76 people. Last year, it enjoyed decent growth in North America, its most important market, while also holding steady in continental Europe, the second-largest market for its products. Its British and Irish turnover also rose.

Oglesby & Butler had been one of the smallest companies listed on the Irish Stock Exchange before being bought out in 2010 by a consortium led by the Kevin and Thomas Anderson-controlled Grove Ventures.