Carbery reports steady returns

Carbery has delivered earnings of €27.2m to its shareholders in 2014, up 1.9%, while profits dipped slightly versus 2013.

The West Cork-based manufacturer of value-added ingredients, flavours and cheese reported a profit of €12.7m, versus €13.2m in 2013; turnover at €316.6m was a near repeat of €318.2m in 2013.

The 2014 figures also carry an exceptional credit of €13.4m, made up of a €14.7m non-cash gain in 2014 related to the changes to the company’s defined benefit pension scheme, plus a charge of €1.3m related to the consolidation of its UK flavour-manufacturing activities.