Profits lower at nutrition firm ABC
Food firm ABC Nutritionals is benefiting from the boom in the popularity of sports nutrition products - recording profits of €887,742 last year.
New accounts lodged by the award-winning firm show that the profits recorded in the 12 months to the end of December declined by 33pc on the €1.3m in profits enjoyed in 2015.
Director Sean McNamara said profits dropped on the back of a ramp up in investment by the business, including boosting staff numbers, as well as the impact of the weaker sterling on export sales.
The firm is a private-label manufacturer of sports nutrition, weight management and lifestyle nutrition products.
It manufactures many private label brands for customers in 16 European countries as well as countries in the Middle East and Africa.
At the end of December last, the firm's accumulated profits had increased to €4.9m from the €4m in accumulated profits at the end of December 2015.
The firm's cash pile also increased, going from €2.56m to €2.74m.
Numbers employed increased from 22 to 24.
Aggregate pay to directors, Sean McNamara and Willie Wixted decreased from €308,812 in 2015 to €300,531 that includes pension payments of €20,000.
Mr McNamara and Mr Wixted are shareholders along with Atis Vitolins and Laura Fahey.