Nestle Ireland sees profits rise to €2.4m

FOOD group Nestle increased its pre-tax profits last year to €2.4 million from more than €2m in the previous year.

Nestle Ireland, maker of Kit Kat chocolate bars and Nescafe coffee, saw turnover drop from €146m in 2007 to €144m last year.

Accounts filed recently at the Companies Registration Office show turnover in Ireland was €142.5m and just over €2m for the company in Britain.

Staff numbers dropped by four to 164 but staff costs increased slightly from €9.2m to €9.7m.

The principal activities of the group were the importation, sales, marketing and distribution of beverage, confectionery, chilled and petfood products.

The accounts read: “The risks and uncertainties faced by the business continue to be those typical of the retail sector and in particular, the fast moving consumer goods sector and include the level of competitor investment and activity, further customer consolidation, currency fluctuation and commodity price variations.

In mid-2002, Nestle Ireland sold its Tallaght manufacturing plant and local brands produced to Premier International Foods.

In 2004, it closed its chocolate crumb production plant in Mallow with the loss of 57 jobs.

The company is owned by the Nestle Corporation of Switzerland, one of the world’s largest food groups.