Sales slump 49% at Tic Tac maker Ferrero Ireland

Pre-tax profits at the Cork-based unit of Italian sweet manufacturer Ferrero fell 3% last year to nearly €2.8m, with revenues almost halving.

Newly filed accounts for Ferrero Ireland, which manufactures Tic Tac mints, show revenues fell 49%, to €28.6m, in the 12 months to the end of last August. The fall in revenue was a result of a new manufacturing contract between Ferrero Ireland and its Luxembourg-based counterpart.

Ferrero has produced Tic Tacs, which are available in over 100 countries, since 1969. The Cork plant’s principal market is Europe and its management said the latest results were in line with expectations and continued demand for the product is anticipated.