The Nasdaq-listed group Hibernia Foods is likely to move into net profit in the current quarter after reporting a substantial improvement in second quarter, chairman and chief executive Mr Oliver Murphy says.

Sales in the second quarter rose 69 per cent year-on-year to €51.6 million (£40.7 million), mainly due to the inclusion of sales from the Sara Lee bakery business and the La Boheme chilled desserts business in the UK. Gross profits almost doubled to €10.6 million.