Food group Unilever records €23m profit rise

PROFITS at consumer foods group Unilever Ireland rose by €23 million last year, according to results just filed at the company’s office.

The company, best known for brands like Lyons Tea and Persil washing powder, made pre-tax profits of €48.1 million for 2003.

However, much of the increase was due to the profits on the sale of a factory in Dublin, which resulted in an exceptional gain of just over €10 million.

Two years ago, Unilever announced that it was planning to close the factory in Rathfarnham, south Dublin, saying it was no longer competitive. The factory, which employed 180 people, closed in June 2003.

At operating level, profits at Unilever Ireland fell from €37m to €35m. Turnover for the year also slipped, dipping from €329.2 million to €318.1.

The company said turnover in its food division fell from €203.9m to €196.4m, while its detergents business saw sales fall to €121m from €125m.

The company once again reduced its workforce during the year, falling from 666 to 640.

The cuts came from its production staff where numbers dropped from 219 to 156. It did, however, increase the number employed in administration. Even with the cuts, the wages bill for the year rose by €5 million to €35 million.

The company’s five directors in Ireland saw their pay rise from €1 million to €1.33m.

In the accounts, the directors said that “in the conditions prevailing during the year, the development of the group’s business and its financial positions at the year end were satisfactory”.

They added that the restructuring of the company in Ireland is now largely completed

The company is a subsidiary of the giant Anglo-Dutch conglomerate Unliver plc.