Flahavan’s, the family-owned business best known for its porridge oats, saw its profits almost halve for its 2018 financial year. Recently filed accounts show Flahavan’s reported operating profits of €1.4m for the 12 months to the end of June 2018, which is down 47% on the previous year.
Operating profit margins in the business halved from 12.4% in 2017 to a still very healthy 6% last year. Pre-tax profits for the year stood at €1.36m, which is also down 47% year on year.
Despite the fall in profits, Flahavan’s saw its sales grow by 9% in 2018 to reach €23m. The Waterford-based company, which employs 85 people, sources more than 15,000t of oats every year from 50 local growers.
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Founded in 1785, Flahavan’s is a seventh-generation family business. While best known for its porridge range, Flahavan’s has invested in on-the-go products in recent years, such as flapjacks and granola cereals. Flahavan’s has over a 50% share of the €30m hot oats cereal market and over 60% of the sector’s convenience segment.
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Flahavan’s, the family-owned business best known for its porridge oats, saw its profits almost halve for its 2018 financial year. Recently filed accounts show Flahavan’s reported operating profits of €1.4m for the 12 months to the end of June 2018, which is down 47% on the previous year.
Operating profit margins in the business halved from 12.4% in 2017 to a still very healthy 6% last year. Pre-tax profits for the year stood at €1.36m, which is also down 47% year on year.
Despite the fall in profits, Flahavan’s saw its sales grow by 9% in 2018 to reach €23m. The Waterford-based company, which employs 85 people, sources more than 15,000t of oats every year from 50 local growers.
Founded in 1785, Flahavan’s is a seventh-generation family business. While best known for its porridge range, Flahavan’s has invested in on-the-go products in recent years, such as flapjacks and granola cereals. Flahavan’s has over a 50% share of the €30m hot oats cereal market and over 60% of the sector’s convenience segment.
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