Pre-tax profits at the Cork-based unit of Italian sweet manufacturer Ferrero fell 3% last year to nearly €2.8m, with revenues almost halving.

The world’s richest confectionery maker Michele Ferrero, famed for Nutella, died on Valentine’s Day. The 89-year-old, who had been ill for several months, died yesterday in Monte Carlo where he lived, surrounded by his family, his company said in a statement.

The world’s richest confectionery maker Michele Ferrero, famed for Nutella and Ferrero Rocher chocolates, died on Valentine’s Day.

Two “sweet-makers” sacked by sweet giant Ferrero and accused of changing the recipe on a batch of mints have been awarded a five-figure sum each.

Italian chocolate group Ferrero is still considering joining the bid battle for Dairy Milk maker Cadbury, according to reports.