Enniscorthy-based Taoglas, which makes and designs antennas and cellular components, reported a $23 million loss for 2023 in the first set of results since a US private equity firm acquired the Irish company early last year.
Led by co-founder Dermot O’Shea, who retained a stake in the business following its sale, Taoglas’s US and global revenue figures have not been disclosed. However, the wider group was “operationally profitable” last year, a company spokesman said, having expanded into new regions and opened an office in India in 2023.The $23 million before-tax loss related to expenditure arising from Graham Partners’s acquisition of the firm, which was announced in February 2023, a spokesman said.