Glenisk, the Co Offaly-based organic dairy foods manufacturer, saw its profits more than triple in 2019 after an exceptionally strong year for the family-owned company.
Recently filed accounts show Glenisk made operating profits of just over €1.3m in 2019, which was more than three times the operating profit it made a year previous. Profit margins in the business widened to a very healthy 5.5% last year.
The accounts show Glenisk made a pre-tax profit of €1.3m for 2019, as sales for the year grew by more than 15% to hit over €24m. Sales to Irish customers accounted for 97% of the group’s business last year, with just 3%, or €804,000, of sales coming from the UK market.
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Employing over 70 people at its processing facility just outside Tullamore, Glenisk had net assets of almost €10m at year-end 2019. Glenisk is majority-controlled by the Cleary family, who own 62% of the business. The remaining 38% of the company is owned by French dairy giant Danone.
Glenisk did not pay a dividend to its shareholders for 2019.
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Glenisk, the Co Offaly-based organic dairy foods manufacturer, saw its profits more than triple in 2019 after an exceptionally strong year for the family-owned company.
Recently filed accounts show Glenisk made operating profits of just over €1.3m in 2019, which was more than three times the operating profit it made a year previous. Profit margins in the business widened to a very healthy 5.5% last year.
The accounts show Glenisk made a pre-tax profit of €1.3m for 2019, as sales for the year grew by more than 15% to hit over €24m. Sales to Irish customers accounted for 97% of the group’s business last year, with just 3%, or €804,000, of sales coming from the UK market.
Employing over 70 people at its processing facility just outside Tullamore, Glenisk had net assets of almost €10m at year-end 2019. Glenisk is majority-controlled by the Cleary family, who own 62% of the business. The remaining 38% of the company is owned by French dairy giant Danone.
Glenisk did not pay a dividend to its shareholders for 2019.
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