Profits at baby food maker Wyeth fall 11.5%

Pre-tax profits at Wyeth Nutritionals based in Co Limerick which sells baby food formula to China fell 11.5% to $11m (€9.8m) last year. New accounts filed by Wyeth Nutritionals Ireland Ltd show its revenues fell 23% to $502m even as volumes of the infant formula sold to China increased.

The directors in the accounts said this was due to a change in the financial and supply flow of products introduced in April last year. Wyeth Nutritional Ltd, based outside the village of Askeaton in west Limerick, paid out a dividend of $40m, down sharply from the payout of $1.1bn in 2017.