Carbery reports 94% rise in profits

CARBERY Group reported a 94% increase in pre-tax profits last year. This was due to improved dairy market returns and the incorporation of its Syngery division’s acquisition of Van Lab for the full year.

The group, based in west Cork, reported a very good trading year with strong performances across all its business units.

Pretax profits were €8.47 million (compared with €4.4m in 2006) while turnover rose 26% at €222m from €176m. EBITDA was at €12.2m, up from €6.8m in 2006.