IAWS announces hike in profits
Food company IAWS today announced a 14.5% hike in profits to €137.5m for the year ended July 31, 2006, compared with €120.1m last year.
Group revenue was up 10.6% to €1.56bn for the year.
"Food North America completed a major capital investment programme in La Brea Bakery, New Jersey, that will provide a strong platform for future growth," said chief executive Owen Killian.
"Food Europe benefited from an excellent first full year financial contribution from French acquisition, Groupe Hubert, together with an excellent performance from our businesses in Ireland and the UK operating in competitive markets.
"The Agribusiness Division rebounded this year with increased demand for animal feed ingredients and fertiliser. Rising costs are a feature of all food businesses and make for a very challenging environment. Nevertheless, we remain confident about our prospects for growth.”
