The popularity of one of Ireland's most renowned foods - Clonakilty black pudding - has helped drive up profits at Edward Twomey and Co, the firm which makes the gourmet sausage.
The company claims to use a recipe from the 1880s and has introduced variations of the product in recent years following demand from supermarkets and restaurants. It recently received international exposure when 300 kilos of its puddings were served to golfers and fans at the Ryder Cup.
The company suffered a major setback in 2005, when its director Edward Twomey passed away in October at the age of 54. He was behind the idea of setting up a separate production plant for the product, which currently employs about 20 people. He was also a key figure in the promotion of the product in the Republic and overseas for many years.
However, its product line appears to have enduring popularity. In the year ended October 31st, 2005, gross profit rose to €1.4 million from €1.2 million, while operating profit topped €750,000 for the first time, up from just over €700,000.
The death of Mr Twomey resulted in a "keyman" policy payout of €2.5 million. Such payments are made when a key member of a company passes away or is disabled. The company had retained profits of €7.8 million at the end of the period under review.
Edward Twomey and Co makes the various meat-based products that go into the puddings, but these are sold directly to third parties by the subsidiary, Clonakilty Food Company.
Edward Twomey and Co provided goods and services valued at €3.1 million to Clonakilty Food Company during the period.
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