20% bite taken out of Horgan’s profits

THE Mitchelstown-based supplier of fine foods and cheese Horgan’s Delicatessens saw its profits fall by 20% last year, according to its latest accounts.

The company, owned by Michael and Maura Horgan, saw its operating profits fall to €709,232 in the year to December 28, 2002, from €889,555.

Profits before tax also declined year-on year, from €572,227 to €436,189 according to documents filed recently at the Companies Registration Office. However, turnover for the year was up from €25.4 million to €26.6 million.