Joe and Bill Connolly of Connolly's Red Mills pictured with the Connolly's Red Mills plant in the background in Goresbridge Co. Kilkenny.;Picture Dylan Vaughan.
ADVERTISEMENT
Rednut, the pet food joint venture between the Queally family and Connolly’s Red Mills, reported a 6% decline in sales to €22.8m for its 2018 financial year. Accounts filed with the companies office (CRO) show the Rednut business is designed to break even every year.
The company said it saw a decline in the volume processed by the business last year.
Based in Gowran, Co Kilkenny, Rednut made an operating profit of less than €55,000 last year with operating profit margins set at a razor thin 0.25%. The company made a pre-tax profit of just over €43,700 in 2018. Net assets in the business stood at just over €4.5m.
ADVERTISEMENT
The accounts show that Rednut has outstanding loans of more than €1.5m from three businesses – Arrow Group and Irish Dog Foods, which are both controlled by the Queally family, and Connolly’s Red Mills.
Operating from a state-of-the-art petfood manufacturing facility in Gowran, the company employs around 40 people.
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.
Rednut, the pet food joint venture between the Queally family and Connolly’s Red Mills, reported a 6% decline in sales to €22.8m for its 2018 financial year. Accounts filed with the companies office (CRO) show the Rednut business is designed to break even every year.
The company said it saw a decline in the volume processed by the business last year.
Based in Gowran, Co Kilkenny, Rednut made an operating profit of less than €55,000 last year with operating profit margins set at a razor thin 0.25%. The company made a pre-tax profit of just over €43,700 in 2018. Net assets in the business stood at just over €4.5m.
The accounts show that Rednut has outstanding loans of more than €1.5m from three businesses – Arrow Group and Irish Dog Foods, which are both controlled by the Queally family, and Connolly’s Red Mills.
Operating from a state-of-the-art petfood manufacturing facility in Gowran, the company employs around 40 people.
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