Brennan’s profits prove there’s dough in bread
Joseph Brennan Bakeries, the company behind Ireland’s most popular sliced pan, returned to profitability last year after sales increased to more than €50 million.
The company, which is controlled by the Brennan family, had a turnover of €50.6 million last year, up from €47.9 million for the year before, according to accounts just filed.
The bakery made a pre-tax profit of €4.3 million, a significant improvement on 2004 when it made a pre-tax loss of €19.55 million after writing off loans valued at €24.7 million.
Gross profits at the company remained relatively static at €13.3 million, while operating profits fell...
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