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Profits double at Nestlé Irish Infant Formula Business

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Dec 02, 2016

  • Industry Updates

Wyeth Nutritionals, the Irish infant formula business of Swiss food giant Nestlé, saw profits more than double last year as turnover jumped on the back of increased demand in China.

However, a second Irish subsidiary – Nestlé Ireland Limited – put in a less impressive performance as it slipped back into the red.

Wyeth, which produces a range of powder and liquid “ready to feed” infant formulas – including brands such as S26 Gold, Promil Gold and Illuma – recorded a $165.9 million (€156.5 million) pretax profit for 2015, according to accounts recently filed at the Companies Office.

This compares with $76.7 million in 2014, a year in which profits more than trebled from $25 million.

Sales at the Irish unit, which was acquired from Pfizer in an $11.85 billion deal in 2012, rose 11 per cent to $584.4 million from $525.8 million a year earlier.

Source (Irish Times)

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