Finegrove Holdings Ltd, best known to Irish farmers through Flahavan’s the cereal millers, grain merchants and provider of oat based food products, has revealed a group operating profit of €2.665m for the year ending 20 June 2022. This was marginally higher than the €2.604m for the previous year and was delivered on a turnover of €29.3m which was up from €27.8m the previous year.
Current assets increased to €20.4m up from €16.8m the previous year. This reflects an increase in value of stocks, cash and debtors or money owed to the business.
The business employed 91 people during the year and staff costs were €4.5m, down slightly from €4.7m the previous year when 93 people were employed. Directors emoluments (payments) were €191,775 and dividend payments were €540,000, up from €300,000 the previous year.
The company is headquartered in Kilmacthomas, Co Waterford and is a major buyer of cereals.