Glenisk aims for new record as lockdowns boost yogurt sales      

TV presenter Kathryn Thomas with Self Help Africa CEO Ray Jordan and Vincent Cleary, managing director of Glenisk, at the launch of Self Help Africa's 'One Million Trees' campaign, at Airfield Estate, Dublin, earlier this year. File picture: Leon Farrell/Photocall Ireland

Organic yogurt sales at Glenisk increased by 50% as the family-controlled food producer tapped a boost in business during the first Covid-19 lockdown earlier this year and may also tap extra sales during the current national restrictions. 

The bumper sales at the Cleary family-controlled brand’s organic yogurt products have put the company on course for another record sales year in 2020.

In 2019, Glenisk saw its sales increase to their highest ever after a 15% boost in revenues to €24.1m, with the sales surge in part due to the company developing new products, according to new accounts. 

Emma Walls, commercial director at the Co Offaly-based Glenisk, said the company expected revenues to be up again this year and to even better the 2019 performance. 

'Very significant growth'

“We've seen very significant growth during 2020," she said. "Our organic yogurt sales increased by 50% during the first lockdown versus the same period last year." 

Ms Walls said the company, which is led by former RTÉ Secret Millionaire Vincent Cleary, benefitted as more people ate at home during the first lockdown.

“We are certainly seeing a lift for the second lockdown but have yet to quantify that,” she said. 

Ms Walls was commenting on new accounts that showed its pre-tax profits increased more than three-fold to €1.3m last year.

The company has contracts with 50 farms across the country from which it sources organic cows' milk and goats' milk.

It has recruited an additional 10 organic farmers this year.

Citing AC Nielsen data, Ms Walls hailed Glenisk having retained its number one position in the yogurt market in Ireland for a second time, securing a 19% share and after selling the equivalent of 130 million servings.

Staff numbers employed by the company have now grown to 85.

The company’s staff costs last year increased from €3.9m to €4.5m.

Nine directors were on the Glenisk board during the year, and directors' pay fell slightly to €1.49m in the year.

Shareholder funds at the end of last year totalled €9.6m, as accumulated profits amounted to €4.5m. 

The company's cash funds increased from €3.8m to €5.1m.

The profit last year takes account of non-cash depreciation costs of €616,435.

Best-selling flavours

Some of its best-selling flavours have not changed, regardless of lockdowns, according to Glenisk.  

“Natural remains our most popular flavour, reflecting the trend for both simple ingredients and the versatility of yogurt as a cooking ingredient," said Ms Walls. 

"Dark Cherry, a recent addition, has proved to be a dark horse, outperforming expectations.

"All of the data is telling us that customers are taking additional health measures this year and see yogurt as offering benefits in terms of nutrition, immunity, and gut health."