Food group Jacob Fruitfield made after-tax profits of €4.4m in its first five months of trading, but it has expressed concern about future trading. The group was formed in August 2004 after Fruitfield foods acquired Irish Biscuits from France's Groupe Danone.
But the company - whose brands include Jabob's, Fruitfield, Chef and Silvermints - said the five-month period to the end of December 2004 represented a period of high seasonal biscuit and confectionery sales and was not a meaningful indication of profits in a full year.
It added that recent trading was 'challenging', with intense competition from imported biscuits, sauces and confectionery. The company also warned that the abolition of the Groceries Order would lead to pressure from stronger customers, and made it difficult to pass on higher energy, ingredients and labour costs.
Jacob Fruitfield said the group hoped to grow through developing its existing brands, moving into new product areas and making further acquisitions.
