Irish Chocolatier Lily O’Brien Sees 36% Profit Decrease In 2018
Lily O'Brien has reportedly posted a 36% profits decrease to €2.1 million in 2018.
The luxury chocolate manufacturer also reported that its operating profits fell by 28% to €2.9 million during the period, which it attributed to higher costs reports the Irish Times.
The company also recorded a post-tax profit of €1.75 million after paying €354,995 in corporation tax, the newspaper said.
The Irish chocolatier profits last year takes account of 'combined non-cash depreciation and amortisation costs of €1 million.'
Based in Co. Kildare, the company which was founded by Mary O'Brien in the 1990's, was acquired in January last year by a Polish confectionary giant Colian Holdings for an estimated €40 million.
© 2019 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click subscribe to sign up for the Checkout print edition.