IAWS profits increase by 17% to €82.2m

FULL-YEAR profits at IAWS, the last under managing director Phil Lynch, rose by 17% to €82.2 million.

It said yesterday that profits were boosted by increased sales in its core Cuisine de France range and from the contribution from its Canadian joint venture, Tim Hortons restaurants.

Turnover for the year to end July rose by just 1.3% to €1.25 billion, but stripping out currency movements, sales would have been ahead by 7% for the year. Adjusted earnings per share were ahead by 18% to 53.04c.