Nestle Ireland back in profit after restructuring

FOOD group, Nestle Ireland bounced back into the black last year with pre-tax profits of €703,000, following losses of €6.3m in the previous year.

Nestle (Ireland) Limited and subsidiaries, maker of Kit Kat chocolate bars and Nescafe coffee, saw turnover fall from €111.1m to €99.1m in the year to the end of December 2010.

During 2009, there was a decision to restructure the Nestle Ireland business. A specific provision of €5.2m was created to cover redundancy costs and an onerous lease. The accounts said £603,000 of this provision was utilised in 2010.