Strong Performance By Carbery Group
Ireland-based international food ingredients manufacturer Carbery Group has reported a 22% rise in turnover to Eur224.3m in 2010. The group benefited from stronger consumer demand for nutritional based food and beverages in key overseas markets, continued recovery of global dairy prices in 2010 and successful positioning in new regions. Pre-tax profit increased to Eur6.8m from Eur3.1m the previous year.
Carbery’s expenditure on R&D was increased in 2010 and significant work has already been advanced with FHI (Food for Health, Ireland) to identify potential novel milk-based compounds for use in final products in market sectors which include infant health, weight management and healthy ageing. Similarly a research programme is under way with the North Carolina State University (NCSU) to further develop Group capability in sensory science and applications expertise in dairy proteins.
“Our business commitment in R&D is matched by continuous investment in process technology including new plant technology for our nutritional ingredients business, an upscale of flavour production facilities for our North America & European businesses, and plans to invest in production facilities both in Asia and South America. The culmination of this commitment, combined with effective strategy execution, will put Carbery in the best position possible to reach a higher growth path for the future,” says Dan MacSweeney, chief executive of Carbery Group.
