Carbery Group 2014 Financial Results
Carbery Group, the leading international manufacturer of value-added ingredients, flavours and cheese, has reported Operating profit before exceptional items of €12.7 million for year ending December 2014. Turnover was €316.6 million. During 2014 Carbery Group maintained its focus on adding value to its operating activities with group capital expenditure of €14.7 million across its dairy, nutrition ingredients and international taste business divisions. Significant investments were made in Carbery’s cheese processing facilities in Ballineen, Co Cork to facilitate post quota expansion.
Carbery’s nutritional business also had a good year in 2014, benefiting from strong markets and from increased output of specialised ingredients, in particular its hydrolysed protein range. The company is engaged in a number of public/private research initiatives including the Dairy Products Technology Centre and Food for Health Ireland.
Synergy, Carbery Group’s taste and natural extracts business, had another successful performance in 2014. Results were driven by growth and consolidation in the established markets in the EU and US with new markets in South East Asia and South America continuing to be areas of focus for Synergy’s international growth. In its first full year of operation Synergy Thailand has had a very successful year, with Carbery’s operating presence in the region facilitating significant new business wins. Synergy flavours US and EU also benefited from significant investments in new analytical and sensory capabilities to support their innovation drive and deliver a more tailored customer experience.company news