Merger costs take their toll on Avonmore Waterford
Article Abstract:
Avonmore Waterford Group has reported 1997 operating profit amounting to 92 million Irish pounds, up 9% from previously. However, the massive cost of its merger turned a 60 million Irish pounds pre-tax profit into a 109 million Irish pounds loss for the year. Divestments during the year included the disposal of all its US dairy operations owned by Waterford Foods and the sale of its UK fruit juice unit. Proceeds from the sales will be used to reduce borrowings.
Publication Name: Eurofood
Subject: Food and beverage industries
ISSN: 0955-5405
Year: 1998
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US arm continues to boost Ahold
Article Abstract:
Dutch retailer Ahold's net profits grew 70.1% in first half 1997 to Hfl 441.8 million. US sales increased to $7.6 billion, a rise of 54.7%, while domestic sales were Hfl 25.7 billion, up 48.3%. Sales for the home market rose to Hfl 8.4 billion, an increase of 4.9%. Domestic operating profits rose by 10.1% over 1996, although the rest of Europe was lower with costs incurred for start-up expenses and flood damage.
Publication Name: Eurofood
Subject: Food and beverage industries
ISSN: 0955-5405
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
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