Carbery reports strong results
Global food ingredients manufacturer Carbery Group reports a 22% rise in turnover in 2010, with revenues of £197 million (€224.3m). The group says it benefited from stronger consumer demand for nutritional-based food and beverages in key overseas markets, continued recovery of global dairy prices in 2010 and successful positioning in new regions.
“Carbery Group’s performance was extremely encouraging, generating a stronger EBIT relative to 2009,” says Carbery Group CEO Dan MacSweeney.
Carbery’s ingredients division comprises Synergy, an international flavours and savoury ingredients specialist, and a whey protein-based nutritional ingredients business. Both made a strong contribution to the increase in revenue and operating profit. Synergy delivered significant growth based on greater penetration in existing markets such as North America and Western Europe, continued gains in emerging markets in Asia and South America and successful new business development in sport nutrition and general nutrition.