Enterprise Ireland says recovery remains fragile

Enterprise Ireland clients achieved export growth of 6.9 per cent to €10

Enterprise Ireland clients achieved export growth of 6.9 per cent to €10.9 billion last year according to the Agency's annual report published today.

Employment growth at Enterprise Ireland sponsored companies by a net 1,081 bringing total employment to 148,116.

Mr Dan Flinter, chief executive of Enterprise Ireland, said: "This was a robust performance in an increasingly difficult international economic climate particularly in the second half of the year. The software sector in particular delivered strong results with exports up by 28.6% to €1.48 billion".

Assessing the current environment for business he said: "International trading conditions are still difficult and while the bottom of the cycle occurred at the beginning of this year the recovery internationally is at best fragile.

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The report added that changing market conditions particularly changes in the Euro/Sterling exchange rate will affect the margins of some Irish companies and put increasing pressure on their competitiveness.

The report recommends that companies must become more competitive and diversify into other markets to offset currency fluctuations.