Profits at firm behind Cully & Sully fall 17% to €3.18m as costs rise

Hain Celestial bought Cully & Sully for more than €10m in 2012

Profits at the company behind the Cully & Sully foods business fell 17 per cent in its last financial year to €3.18 million as costs rose, the latest figures show.

Hain Celestial Ireland, the local arm of the US multinational that bought Cully & Sully in 2012 for more than €10 million, grew sales by 3 per cent to €23.26 million in the 12 months to June 30th, 2016.

Accounts just lodged for the company show that profit before tax fell 17 per cent to €3.18 million from €3.85 million over the same period, which is the company’s financial year.

The cost of sales, administration and distribution rose to €20 million during the 12 months from €18.6 million in Hain Celestial Ireland’s previous financial year.


Net assets rose to €11 million on June 30th last from €8 million a year earlier, aided by a fall in liabilities to €2.5 million from €4 million, while its cash grew to €4.8 million from €2 million.

The returns show that the company employed seven people during the year, and paid them €548,00 in wages, welfare and pension.


Hain Celestial bought Cully & Sully, which makes and sells chilled soups, for more than €10 million in 2012. Colum O'Sullivan and Cullen Allen, whose family run the Ballymaloe foods business, founded the company.

New York-based and listed Hain Celestial is a multinational that owns a range of food businesses around the world. Its other brands include Linda McCartney’s vegetarian food and the Dream range of dairy-free products.

Its last financial reports shows that it had sales of $750 million (€670 million) and operating profits of $69 million in the three months ended December 31st. Its Irish division paid no dividend to its owner in 2016.

Barry O'Halloran

Barry O'Halloran

Barry O’Halloran covers energy, construction, insolvency, and gaming and betting, among other areas