Breadmaker’s gross profits rise to €3.5m
However, gross profits rose from just over €3 million to €3.5 million, in the period between 28 June 2009 to 26 June 2010.
Profits in the last two years mark a positive turnaround for the company, which reported losses of €900,000 in 2008.
In the accounts, the directors said they were satisfied with the performance during the year.
They state: “The business operates in the food grocery sector and, like all businesses, we are operating in challenging times. The business is fully supported by group operations, while the current climate is challenging the directors feel this will also give rise to opportunities for the business.”
“The relatively low turnover of personnel reflects the general policy of providing good terms and conditions of employment while dealing with staff as well as the other stakeholders in the business, in a fair and consistent manner.”
The family-owned McCambridge group has acquired a number of businesses in recent years: British-based WR & SV Hussey in 2001, Cookes Bakery in 2006 and cake manufacturer Inter Link Foods for £75m in 2007.
Staff costs last year increased from €2.1m to €2.4m. Directors remuneration rose from €413,833 to €724,908.
