Glenilen tastes success as profits rise by €91k
Driven by double digit growth in Ireland and the UK last year, 2013 accounts for Glenilen Farm Ltd show the business increased its accumulated profits going from €229,045 to €320,322 in the 12 months to February 28, 2013.
This followed accumulated profits increasing from €157,746 to €229,045 in the 12 months to the end of February, 2012.
The firm’s cash pile declined from €146,207 to €120,918 in 2013.
The enterprise produces a range of mainly dairy-based products including the well-known Glenilen brand of yoghurts in a business that started off as a hobby in 1996 for the couple behind the business Alan and Valerie Kingston.
Today, the enterprise employs 40 people with a production plant at the couple’s 55-acre dairy farm near Drimoleague in Co Cork. Other products include cheesecakes, desserts, cream cheese, lemonade cordial, butter and creme fraiche.
Recently, the business secured significant contracts with Tesco in the UK and Aer Lingus to supply desserts.
The new deals are expected to increase revenues to around €4.6m in the current financial year and this compares with €4.25m in the 12 months to the end of February 2014.
