Arvum Group, a holding company owned by the Power family in Co Waterford, saw strong profit growth in 2018. Recently filed accounts show operating profits at Arvum jumped by almost a third (+32%) for its 2018 financial year ending June 2018, to just under €864,000. Operating profit margins in the business widened from 2.7% in 2017 to 3.4% last year.

Arvum recorded sales of €25.3m for the year, which was up 3% on sales for 2017. The company said it spent almost €120,000 on R&D work during the year and will pay a dividend of €86,500 to its shareholders.

Arvum is a holding company that controls a number of subsidiary businesses that will be known to Irish farmers, including Seed Technology (SeedTech), Advanced Fertilisers, ProNutri and Specialist Nutrition.

The group also holds a 45% stake in DLF Seeds, a joint venture business operated in partnership with DLF Trifolium, which is owned by Danish farmers and the world’s largest producer of grass and clover seed with a 25% share of the global market and a 45% share of the EU market.