Iaws announces positive interim results

Food group Iaws, which ownes Cuisine de France, has announced its interim results for the half year ended January 31, 2008.

Pre-tax profits before intangible amortisation and exceptional items have risen by 40% to €78,459. Group revenue was 34.5% higher at €1.127 bn.

The firm has seen an increase of 30.2% in diluted earnings per share to 48.37c for the period, compared to 37.15c in the prior period.

Group operating profit increased by 43.4% to €82.2m. The operating profit from the food business was €62m compared to €45.5m in 2007 – an increase of 36%.

“IAWS Group, plc has had an excellent start to 2008 with strong growth across the entire business,” said IAWS Group chief executive officer, Owen Killian.

“In an environment where food inflation has become a reality and economic conditions for consumers are changing, the lifestyle food business continues to see strong consumer demand across all channels for its always fresh and convenient offering.

“Origin, of which IAWS Group, plc owns 71.4%, has also had an excellent performance in the period benefiting substantially from a strong performance in agricultural markets."