Lifestyle Food drives IAWS profits up 23% to €42.8m

FOOD Group IAWS Plc has produced strong first-half results driven by good growth in its Lifestyle Food businesses, where overall profits before tax and exceptional items rose 23% to €42.8 million.

Diluted earnings per share were up 20.5% to 26.6c per share while group sales, including share of joint ventures, rose 9% to €653.3m.

IAWS shares were up by 7 cent to €11.85 by mid-afternoon as the market responded positively to the figures. These were in line with or slightly ahead of expectations, but with the second half the stronger of the two, much will hinge on how the group delivers in the second six months.