The Irish distribution and wholesale arm of Sanofi-Aventis, the French pharmaceutical firm that recently announced the loss of 200 jobs at its Waterford plant, paid a €13.2 million dividend to its parent company in 2005 after sales rose to more than €50.2 million.

Recently filed accounts for Sanofi-Aventis Ireland show that pretax profit climbed by more than 14 per cent to €6.15 million during 2005.

The company indicated in its results that the Irish operation had experienced a "strong performance" in 2005 and it expected that the trend "should continue into the foreseeable future".

The €13.2 million payment came on top of a dividend payout of €10.5 million made by the Sanofi-Aventis Waterford operation to the parent firm, also in 2005.

Sanofi-Aventis, which is Europe's third-biggest drug company, announced recently that it would close the manufacturing facility in Waterford by the end of the year.

The plant produces creams and ointments, as well as liver treatment capsules.

A company-wide evaluation had revealed production over-capacity, according to Sanofi-Aventis, which is transferring the manufacturing operations carried out in Waterford to locations in France and Germany.

Turnover at the Waterford plant rose to more than €36 million in 2005 from €32.4 million the previous year, while pretax profit was more than €7 million, compared with €5.5 million in 2004.

Sanofi-Aventis Ireland handles the sale, marketing and distribution of the company's products within the State, and employs 140 people in Dublin. This part of the business is not affected by the recent closure announcement.

The payment of the dividend in 2005 forced Sanofi-Aventis Ireland's profit-and-loss account into the red. A majority of the money was paid out of reserves, leaving the company with an €8.2 million retained loss.

The company behind the Waterford factory also saw its profit-and-loss account pushed into the red, with the dividend payment seeing it post a retained loss of more than €4 million.