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 results appear to contradict industry claims that growing costs threaten profitability. Photo: Getty
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.
source