Glenisk intends to double output during next 2 years

The chief executive of the family-run organic yoghurt maker Glenisk, Vincent Cleary yesterday announced plans by the firm to double output in the next two years.

Over 100 million servings of yoghurt will be produced at the firm’s Tullamore, Co Offaly, plant this year and Mr Cleary said the planned doubling of output over the next two years will lead to employment numbers exceeding 100.

Mr Cleary was commenting on new accounts showing that revenues at the firm last year increased by 11% from €16.94m to €18.78m.

The increase in revenues was mainly driven by overseas sales with sales in the UK increasing more than five-fold from €338,952 to €1.75m with the firm breaking into other overseas markets for the first time recording sales of €129,139.

Mr Cleary said “our intention is that our exports will account for 25% of our business after 2016”.

Glenisk is available in Dubai and Mr Cleary said that the firm has plans to further develop its sales in that region. “Already, our Organic Kids and Organic Baby ranges are sold in six countries and are our fastest growing range,” he said.

The accounts show that Glenisk’s revenues in Ireland increased marginally going from €16.6m to €16.9m. He said: “2014 saw Glenisk market share reach a high of 13%, up from 11.5% in 2013. No other organic brand in the world boasts such a high market share.”

Mr Cleary sees great potential for expansion in Ireland. “On the home front, Glenisk is currently the largest producer of branded yoghurt in Ireland, with a share of approximately 13% of the total yoghurt market here. Remarkably over 70% of the yoghurt sold in Ireland currently is imported so we believe there is very strong opportunity for growth in this market”, he said.

The firm’s pre-tax profits last year reduced by 29.5% from €700,337 to €493,798 and Mr Cleary said: “Greater demand for our products matched with a limited supply of raw materials — especially organic milk — led to an increase in our cost of goods. That increase in the cost of goods was absorbed by Glenisk rather than passing it on to our customers, and therefore had an impact on our profitability.”

Mr Cleary said he was satisfied with the firm’s 2013 performance, describing it as “another solid year”.