Golden Vale sees 32% rise in pre-tax profits

18 February 1999

Golden Vale sees 32% rise in pre-tax profits

GOLDEN VALE announced a 32% rise in pre-tax profits to Euro27.1 million (£18.7m) for 1998. Turnover was Euro736m, against Euro717m last time.

The company said earnings this year would be bolstered by a full-year contribution from recently acquired Rye Valley Foods and Dairyborn Foods.

It expects to make savings from a rationalisation plan, and a solid performance in the existing consumer products businesses.

Golden Vale announced that it will invest Euro8m to expand and modernise its processed cheese facility in Coleraine, Northern Ireland.

• Golden Vale in cheese acquisition, FWi, 12 February, 1999
• Golden Vale plant goes part-time, FWi, 09 December, 1998
• Golden Vale repoorts 62% surge, FWi, 07 August, 1998
• The Times 18/02/99 page 32
  
• Financial Times 18/02/99 page 18 (News Digest)