The Irish operations of Elanco Animal Health were finally wound up at the end of last month after the company decided to cease trading in this country this time last year. Accounts for Elanco Animal Health Ireland show the business recorded a €58m loss in 2015 as the group tried to restructure its cost base.

However, the steps taken in 2015 failed to save the business and a decision was taken in January 2016 by directors to wind down operations with the loss of 100 jobs from the company’s manufacturing site in Sligo.

Turnover for Elanco Ireland’s 2015 financial year plummeted to €8.1m, having stood at more than €63m a year previous. Despite the significant losses accrued over recent years, Elanco’s Irish subsidiary still paid out dividends of €11m in August 2015 to its parent company.

Elanco’s decision to wind up its Irish operations jars totally with an announcement made months beforehand that the company was preparing to invest in expanding its business in Ireland to take advantage of the growing dairy industry.