Country Crest, the fresh produce business based in North Co Dublin, saw operating profits increase a solid 13% for 2016, close to €1.2m. Profit margins in the business increased 20 basis points to a healthy 5.2%. Pre-tax profits in the business fell more than 20% to just over €808,000, which was due to an exceptional charge of €378,000.
Sales at Country Crest increased 10% to €22.8m, with the majority of this (97%) generated from potato and vegetable sales. The Country Crest farm shop located in Donabate generated sales of €575,000 last year.
The business generated strong cashflows during the year in excess of €3m, while net assets increased to more than €20m. Established by brothers Michael and Gabriel Hoey in the early 1990s, Country Crest has become an important supplier of potatoes for Tesco.
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The Hoey’s farm some 3,200 acres in North Dublin growing a range of crops including potatoes, onions and cereals. The company has also returned to beef production in recent years with over 1,000 cattle fattened every year as a beef supply for a range of ready meals.
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Country Crest, the fresh produce business based in North Co Dublin, saw operating profits increase a solid 13% for 2016, close to €1.2m. Profit margins in the business increased 20 basis points to a healthy 5.2%. Pre-tax profits in the business fell more than 20% to just over €808,000, which was due to an exceptional charge of €378,000.
Sales at Country Crest increased 10% to €22.8m, with the majority of this (97%) generated from potato and vegetable sales. The Country Crest farm shop located in Donabate generated sales of €575,000 last year.
The business generated strong cashflows during the year in excess of €3m, while net assets increased to more than €20m. Established by brothers Michael and Gabriel Hoey in the early 1990s, Country Crest has become an important supplier of potatoes for Tesco.
The Hoey’s farm some 3,200 acres in North Dublin growing a range of crops including potatoes, onions and cereals. The company has also returned to beef production in recent years with over 1,000 cattle fattened every year as a beef supply for a range of ready meals.
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