WEXFORD MEDICAL devices supplier ClearStream Technologies saw its pre-tax profit contract by almost 75 per cent to €500,000 in the year to the end of July.

The decline was due largely to a one-off exceptional gain of €1.4 million recorded in the previous financial year. At the trading level, the 2010 results were in line with expectations, the company said.

Revenues grew from €13.9 million in 2009 to €15.1 million, and the group anticipates further sales growth in the year ahead.

ClearStream, which is listed on London’s AIM market, traded at a loss in the first half due to a reorganisation which saw the group re-engineer its manufacturing and production facilities and recruit additional staff.