Sweet tooth boost for Lir

LUXURY chocolate maker Lir saw the appetite for their products rise last year as pre-tax profits increased from €129,410 to €178,836 in the year to the April 30, 2010.

As demand for their chocolates increased, especially from Britain, the company increased employee numbers in the year from 159 to 169 resulting in staff costs increasing from €3.9 million to €4.9m.

Directors emoluments in the year were up from €256,122 to €289,900, according to accounts filed for Lir Chocolates Limited.

The directors said risks and uncertainties faced by the firm include unrealistic increases in wages or infrastructural costs impacting adversely on the competitiveness of the company and its principal customers.

They said the risks are managed by product sourcing, strict cost control, and buying and selling in same currencies and through “close attention to customer service levels and product quality”.

The directors do not recommend the payment of a final dividend on ordinary shares.

The company also said there are no future material changes anticipated in the business of the company at this time.

Gross profits in the year were up from €2.8m to €3.1m. Operating profit, however, was down from €336,196 to €264,802.

There were no exceptional items recorded in the year. However, in the previous year €6,780 was recorded for redundancy costs. The company paid €205,200 in rent for the year, according to the accounts.

The company operates from a 40,000 sq ft plant in Navan, manufacturing under the Lir and Baileys brands and producing own-brand chocolates for British retailers.

Back in 1987 Lir was one of the first companies in Ireland to produce high-quality hand-made chocolates. Founders Connie Doody and Senator Mary White had set it up as a small operation. In 2000 Stephen Cope, the company’s managing director, and commercial director Hugh O’Brien bought into Lir and focused on expanding the company. Lir was bought by British company Zetar/Kinnerton in 2008.