Recently filed accounts for Arvum Group, a holding company owned by the Power family, show that pre-tax profits in the business fell by 17% to €635,676 for the 2017 financial year ending June 2017. Turnover for the year declined 8% to €24.6m, with 90% of sales generated in Ireland. Just over €2.4m comes from sales generated in Europe.
Operating profits fell by 21% during the year to €655,358 as profit margins declined from just over 3% in 2016 to 2.7% last year. The company has net assets of €8.4m at year end.
The Waterford-based company increased its investment in R&D during the financial year close to €118,000, which equates to 0.5% of turnover.
ADVERTISEMENT
Arvum employs 42 people across its subsidiary companies, which include Seed Technology (SeedTech), Advanced Fertiliser, ProNutri and Specialist Nutrition. SeedTech operates a joint venture with DLF Trifolium, the Danish grass and clover seed producer. It has a research site in Waterford with more than 3,000 grass plots where 1,500 varieties are tested.
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
Recently filed accounts for Arvum Group, a holding company owned by the Power family, show that pre-tax profits in the business fell by 17% to €635,676 for the 2017 financial year ending June 2017. Turnover for the year declined 8% to €24.6m, with 90% of sales generated in Ireland. Just over €2.4m comes from sales generated in Europe.
Operating profits fell by 21% during the year to €655,358 as profit margins declined from just over 3% in 2016 to 2.7% last year. The company has net assets of €8.4m at year end.
The Waterford-based company increased its investment in R&D during the financial year close to €118,000, which equates to 0.5% of turnover.
Arvum employs 42 people across its subsidiary companies, which include Seed Technology (SeedTech), Advanced Fertiliser, ProNutri and Specialist Nutrition. SeedTech operates a joint venture with DLF Trifolium, the Danish grass and clover seed producer. It has a research site in Waterford with more than 3,000 grass plots where 1,500 varieties are tested.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS