(23 April) Irish Pride Bakeries Ltd saw its sales decline 4.1% in 2013, according to results posted by its parent firm One51 plc for the year to end 31 December 2013.
The bread brand posted sales of €50.7 million, down from €52.9 million the previous year. In its statement, One51 said that the brand has "operated in an increasingly competitive domestic retail environment over recent years."
Since year-end, a buyer has been found for the bread brand, with the Group signing a "conditional contract for the disposal of the Irish Pride business" on 8th April.
Earlier this month, it was revealed that the Lloyd family, which runs the Diacom telephony group, is set to buy the brand, which has been earmarked for sale by One51 since April 2012.
Overall, One51, which specialises in environmental services, renewable energy and plastics, posted a profit on ordinary activities of €7.1 million, the first time since 2006 it has recorded a profit (after tax and exceptional items).
"From a balance-sheet perspective, both net debt and leverage ratios at year end were at lower levels than any year end since 2005," said Alan Walsh, chief executive. "Consequently, One51 is now in a more robust financial position than at any time in recent years. Trading since the year end is in line with expectations.”
© 2014 - Checkout Magazine by Stephen Wynne-Jones
