Mars Ireland chewing gum sales help boost profit to €10m

Sales of Mars chewing gum products, including Extra, Wrigley, and Orbit, helped boost profits at the consumer giant's Irish arm by 65% last year.

That is according to new accounts for Mars Foods Ireland Ltd which show its pre-tax profits rose to almost €16m as sales increased to almost €130m from over €123m in the previous year. 

Mars Foods Ireland Limited is involved ion selling and marketing Mars products, including confectionery, gums, and petcare. Its brands include Mars, Bounty, Milky Way, Snickers, Starburst, Ben’s Original, Twix, as well as Pedigree, and Whiskas.

The directors said in the accounts the firm had increased turnover and grown "all segments through a focus on driving the profitable mix, mainly driven by gum". 

On the risks facing the firm, the directors said they would continue monitor the fallout from the Ukraine war on global inflation.  

The accounts show that administration expenses increased by 2% to €11.55m, but that overall costs were unchanged at €102.2m, "despite the increase in raw materials due to inflation", which led to it increasing profits.  

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After making a corporation tax payment of €2m, it posted an after-tax profit of €13.8m. Staff numbers fell slightly to 55 people, with staff costs of just under €8m. Including pay and pensions, directors received a total of €302,000 in the year.