Sweet result for Mars as new products help boost profits by 30pc
Published 14/09/2011 | 05:00
PROFITS at the Irish arm of Mars increased last year by nearly 30pc as the launch of new products boosted sales.
According to their latest accounts, for the year to January 1 2011, Mars Foods Ireland made a profit after tax of €5.05m, an increase of €1.4m on 2010. Turnover rose to €129.5m from €122.4m a year earlier.
While profits did increase last year, it is around half the company's profits in 2006, when the Celtic Tiger was at its peak.
The Sandyford-based company acts as distributor for Mars products here, including the eponymous bar as well as Twix and Snickers.
The company also produces Uncle Ben's and Dolmio rice and sauces and Whiskas cat food.
Unusually for an Irish business, Mars actually added staff last year, ending 2011 with two more employees than the 108 it had at the end of 2010. Wages and salaries rose marginally to €7.9m.
The company said sales were boosted by "stronger customer relationships" and the launch of the "Galaxy Bubbles" line of sweets.
"The business maintained market share across each of its three categories while the top brands have retained their strong market position," the directors said.
Looking ahead, the company said it expected to "build on the momentum from 2010 and the strong position of our brands."