This is a rise of 18% on the previous year, on a turnover of €187m for the year ending 30 November 2012.
Turnover increased by 21% on the back of higher feed sales and prices. This increase in sales follows on the back of a 25% increase during the 2011, which represents a 46% increase in sales over the past two years which by any standards is an enormous expansion in output.
Limcor enhanced its financial standing during the year, as nets assets increased by 9% to €24m while shareholder funds increased by 24.5% to €20.2m.
Cash within the company decreased from €7.8m in 2011 to €3.9m at the end of 2012, as outstanding bank debt fell from €22m in 2011 to €17.9m at the end of 2012.
A spokesperson for the company was unavailable to comment on these financial results when contacted by the Irish Farmers Journal this week.
Limcor’s 123 staff were on average paid €49,888 last year.
Southern Milling is one of the largest milling companies in the Republic of Ireland, where it produces and distributes 200,000 tonnes annually of a range of compound feed for dairy, beef, sheep, pig and poultry farmers from its manufacturing plant in Cork.
Equally, Paul and Vincent is also one of Ireland’s largest compounders of animal feeds producing 210,000 tonnes annually, and while it is understood the company buys little if any grain from farmers directly it sources much of its grain input from within Ireland.
Therefore, when combined (Southern Milling, Paul and Vincent and Kellihers) Limor is the largest producer of animal feed in the Republic of Ireland currently. The Group closed its defined benefit pension scheme and now operates a defined contribution scheme only, where the company contributed in total €334,977 last year.
This is a rise of 18% on the previous year, on a turnover of €187m for the year ending 30 November 2012.
Turnover increased by 21% on the back of higher feed sales and prices. This increase in sales follows on the back of a 25% increase during the 2011, which represents a 46% increase in sales over the past two years which by any standards is an enormous expansion in output.
Limcor enhanced its financial standing during the year, as nets assets increased by 9% to €24m while shareholder funds increased by 24.5% to €20.2m.
Cash within the company decreased from €7.8m in 2011 to €3.9m at the end of 2012, as outstanding bank debt fell from €22m in 2011 to €17.9m at the end of 2012.
A spokesperson for the company was unavailable to comment on these financial results when contacted by the Irish Farmers Journal this week.
Limcor’s 123 staff were on average paid €49,888 last year.
Southern Milling is one of the largest milling companies in the Republic of Ireland, where it produces and distributes 200,000 tonnes annually of a range of compound feed for dairy, beef, sheep, pig and poultry farmers from its manufacturing plant in Cork.
Equally, Paul and Vincent is also one of Ireland’s largest compounders of animal feeds producing 210,000 tonnes annually, and while it is understood the company buys little if any grain from farmers directly it sources much of its grain input from within Ireland.
Therefore, when combined (Southern Milling, Paul and Vincent and Kellihers) Limor is the largest producer of animal feed in the Republic of Ireland currently. The Group closed its defined benefit pension scheme and now operates a defined contribution scheme only, where the company contributed in total €334,977 last year.
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