Glenisk, the Co Offaly-based organic dairy foods manufacturer, recorded double-digit growth in profits for its 2018 financial year. Accounts filed with the companies office (CRO) show that Glenisk reported pre-tax profits of just over €415,000, which was up 19% on the previous year.

Sales for the year grew by more than 7% to reach €23.3m. Sales to Irish customers accounted for 97% of the group’s business in 2018, with just 3%, or €640,000, of sales coming from the UK market. The UK had accounted for more than €1m of Glenisk sales in 2016 but the company appears to have scaled back its exposure to the UK market since the Brexit vote.

Operating profits in Glenisk grew by 18% in 2018 to just under €421,000, as operating profit margins widened slightly to 1.8%. Employing 63 people at its processing facility just outside Tullamore, Glenisk had net assets of €8.5m at year end 2018.

Glenisk is majority controlled by the Cleary family, who own 62% of the business. The remaining 38% of the company is owned by Danone.