In accounts recently filed with the companies office, Volac’s Irish subsidiary saw profits in 2015 increase by almost a third (32%) to €2.5m. The dairy ingredients to animal nutrition group reported operating profits of €2.9m as margins were maintained at 10.4%. Turnover for the year increased more than 30% to €27.8m, with more than €8m of this coming from sales in Northern Ireland.

Volac’s business in Ireland accounts for about 12% of the total Volac group’s turnover, which stood at £197m (€231m) last year. Pre-tax profits for the overall group fell by more than £5m to £11.2m (€13m) as a result of falling dairy commodity prices and a 7% decline in the euro relative to sterling.

Founded in the UK in the 1970s by the Neville family, Volac has developed significant operations throughout Europe, the US and Asia. The Irish and UK markets accounted for less than 40% of Volac’s total sales in 2015.

Volac recently signed a joint venture deal with the Wilmar Group to supply high-quality feed ingredients.