IAWS Group advances pre-tax profits

08 October 1998

IAWS Group advances pre-tax profits

IAWS Group, the food and agriculture company based in the Irish Republic, reported a 24% increase in pre-tax profits to I£26.2 million (£23.3m) for the year to 31 July, from I£25.3m last time.

Group turnover rose 16% from I £92.6m to I£675.3m. Half of the growth came from acquisitions – principally the I£38.5m purchase of the Cuisine de France specialist bakery.

The company derives about 40% of its sales from feeds and proteins, 30% from foods, and 20% from the fertiliser division.

Profits grew by 25% to I£32.9m at the operating level.

Volumes were up 15% in the feeds business on the back of record Irish livestock levels.

The company said its purchase of Cedest Engrais of France could prove timely with cereal acreage set to increase under the proposals of the European Commissions Agenda 2000 farm reforms.

  • The Times 08/10/98 page 33 (Business Roundup)
  • The Independent 08/10/98 page 22
  • Financial Times 08/10/98 page 25

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