CARBERY GROUP CONTINUES TO GROW
8 May 2012 | News | Source: just-food
Carbery Group had a positive year in 2011 with revenues increasing by 14.5% to €256.5m and profit before tax (PBT) increasing by 27.8% to €8.7m.
The company's 2011 results reflect an underlying strong performance from the Ingredients division. This division, which includes its flavour business, Synergy, as well as its dairy ingredients portfolio, had a strong year.
Synergy continues to grow in existing markets and establish itself in new ones by acquiring two new flavour businesses in the US. Sensus, which specialises in the extraction of natural aromas from compounds such as tea, coffee and fruits, serves the food service and beverage markets. It was purchased in the last quarter of 2011 and will enhance the range of taste and aroma ingredients that Synergy brings to its customers. Sethness Greenleaf was also acquired during the final quarter of 2011. This business focuses on the production of flavours for the beverage sector and has particular expertise in emulsion technology.
"These are two really important acquisitions for our business," stated Carbery CEO, Dan MacSweeney, "they add scale to the business and bring us new technologies, products and differentiators" he continued.
Carbery's dairy ingredients business also had a good year and its focus on nutritional opportunities is reaping rewards in the market place. The company's long term commitment to innovation and R&D has delivered a strong pipeline of new and innovative products across infant nutrition, sports nutrition and clinical nutrition market sectors.
Its sports nutrition range under the Kinetica brand continues to grow strongly in its target markets of Ireland and the UK.