Golden Vale warned today that margins for the first half of 2001 will be hit by rising costs of raw materials, labour and energy. But it added it expects "some progress" this year with strong sales growth in many market sectors.
The company reported full year pre-tax profit of euro 34.3 million compared 32.3 million a year ago on turnover of 759 million compared to 770 million in 1999.
The 1 per cent drop in turnover includes euro 33 million from the elimination of unprofitable business in the Netherlands, the sales of Danish margarine business and Agri Trading in Northern Ireland, the company said.
Earnings per share were 17.68 cents, compared to 16.41 a year ago. The dividend is 4.13 cents compared to 3.81 last year.
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AFP