"Companies blame higher costs for prices increases - but analysis by the 'Sunday Independent' reveals combined operating profit among 18 popular brands is up over 62pc since 2021, to €416.8m The food industry is blaming higher costs as the main driver of soaring prices - but analysis by the Sunday Independent shows major brands across the sector are reporting bumper profits, explaining at least some of the price hikes."
"The food industry is blaming higher costs as the main driver of soaring prices - but analysis by the Sunday Independent shows major brands across the sector are reporting bumper profits, explaining at least some of the price hikes. A multi-year analysis of financial results for 18 companies behind many of the country's best-loved food brands found combined operating profits had surged by over 62pc since 2021, hitting €416.8m last year."
Major food companies attribute recent price increases to higher input and operating costs. Financial results for 18 popular brands show combined operating profits rose by over 62% since 2021, reaching €416.8m last year. Multi-year company accounts reveal sustained profit growth across recognized household brands. The profit surge suggests part of retail price inflation may stem from higher corporate margins rather than solely external cost pressures. The data covers 18 companies behind widely purchased food brands and compares operating profits from 2021 to the most recent fiscal year, highlighting a substantial increase in aggregate sector profitability.
Read at Independent
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