Nestlé Ireland has posted a pretax profit of €68.1 million for 2014, compared with a loss of €22.8 million in the previous year.
According to IrishTimes.com, the Irish subsidiary of the Swiss food giant also reported that its turnover for 2014 rose to €142 million, from €118 million a year earlier.
Profit after tax came to €71 million, again a significant increase after the company posted a €21 million loss for 2013.
The company also brought its staff costs down from €6.6 million to €5.9 million in the same period. Directors’ remuneration amounted to €5.76 million, up from €3 million a year earlier.
The news comes after IrishTimes.com also reported that another one of Nestlé’s Irish operations, Wyeth Nutritionals Ireland, posted a $76.7 million (€70.2 million) pretax profit for 2014. This represents a 206% increase from the $25 million recorded for 2013.
Wyeth’s full-year 2014 turnover rose by 11% to $5.25 million (€4.83 million) from $4.76 million, boosted by increased demand for its products in China, Africa and the Middle East.
© 2016 - Checkout Magazine by Jenny Whelan.