Saturday 19 October 2019

Cork-based Ferrero enjoys 2018 profit sweetener

Ferrero produces Tic Tac sweets
Ferrero produces Tic Tac sweets

Gordon Deegan

Pre-tax profits at the Cork-based unit of sweet manufacturer Ferrero last year increased marginally to a level of €2.46m.

The slight increase in profits followed revenues decreasing by 2.5pc, from €28m to €27.33m, in the 12 months to the end of August last.

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The firm produces Tic Tac sweets, and the figures show that the number of people employed last year decreased from 245 to 241. Ferrero has produced the global brand of Tic Tacs - which is available in more than 100 countries - since 1969.

The firm's profits take account of non-cash depreciation costs of €3.5m.

Irish Independent

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