IAWS off to a good start

Food company IAWS has had a "good start" to 2007 with pre-tax profits of €56m for the six months to the end of January and a "satisfactory growth" being achieved across the business.

In November 2006, the Group made its largest ever acquisition, acquiring Otis Spunkmeyer in the US, an excellent strategic fit.

IAWS group chief executive officer Owen Killian said: "IAWS is now a market leader in two complementary growth categories in the North American value added bakery market.

"Origin Enterprises, the vehicle created during the period to focus on the original businesses of the Group, delivered a very satisfactory performance in the first half.

"The Group is examining a number of strategic options for the future development and related funding of this business."