Yogurt maker confident of profit

Cork

An award-winning west Cork yogurt manufacturer is confident it will make “strong profits” this year despite slipping into the red last year. Irish Yogurts Ltd in Clonakilty was established in 1994 with just two employees and now employs 130 people.

Founder and managing director Diarmuid O’Sullivan said yesterday: “We will make strong profits this year and we are trading well under difficult circumstances.”

Mr O’Sullivan said the firm would produce about 100 million yogurts this year, with sales expected to increase by more than 25 per cent to €17 million. New accounts show the firm recorded a €287,014 pre-tax loss in the 12 months to the end of November 2011, following a pre-tax profit of €669,722 in 2010. The loss occurred despite revenues increasing 8.8 per cent to €13.4 million.

The business operates from two plants at Scartagh, Clonakilty, and The Miles, Clonakilty. A company spokeswoman attributed the 2011 loss to “the increased cost of doing business in Ireland and the increased cost of ingredients”.