Glanbia Cheese, the joint venture mozzarella business between Glanbia plc and US-based Leprino Foods, paid out £20m (€22m) in dividends to its parent shareholders in 2019. Accounts recently filed for Glanbia Cheese show the company paid an interim dividend of £18m (€19.7m) to shareholders and has declared a final dividend of a further £2.1m (€2.3m) for 2019. The company, which is the largest mozzarella manufacturer in Europe, saw its operating profits rise by 12% last year to hit £31m (€34m) on the back of very strong profit margins of 10.3%. Sales grew by 9% to hit £300m (€330m), while pre-tax profits increased by 16% last year to just over £32m (€35m).
Glanbia Cheese, the joint venture mozzarella business between Glanbia plc and US-based Leprino Foods, paid out £20m (€22m) in dividends to its parent shareholders in 2019. Accounts recently filed for Glanbia Cheese show the company paid an interim dividend of £18m (€19.7m) to shareholders and has declared a final dividend of a further £2.1m (€2.3m) for 2019.
The company, which is the largest mozzarella manufacturer in Europe, saw its operating profits rise by 12% last year to hit £31m (€34m) on the back of very strong profit margins of 10.3%. Sales grew by 9% to hit £300m (€330m), while pre-tax profits increased by 16% last year to just over £32m (€35m).
The company is currently constructing a new €130m mozzarella cheese factory in Portlaoise
Sales to UK customers grew 11% last year to £188m (€207m), while sales to customers in Europe were up 6% to £111m (€122m).
Glanbia Cheese operates from two production facilities, one based in Co Down and the other in Llangefni, Wales. The company is currently constructing a new €130m mozzarella cheese factory in Portlaoise. The plant will have capacity to produce 45,000t of mozzarella.
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