Organic yogurt maker Glenisk is projecting a 15% increase in revenues this year to €27m after the business returned to pre-tax profit in 2025.
New consolidated accounts filed by the Cleary family owned Cordagrove Ltd show that the business recorded pre-tax profits of €885,604 last year after two years of losses due to the “devastating” fire that destroyed the firm’s production plant in 2021.
This followed the Co Offaly-based business sustaining losses of €865,121 in 2024 and €1.38m in 2023, before the firm returned to pre-tax profit in 2025 after revenues rose by 14.5% from €20.5m to €23.49m.
Commenting on the 2025 financial performance, MD of Glenisk, Vincent Cleary said: “2025 was an important year for Glenisk as the overall business returned to profitability, after a number of years of reinvestment in rebuilding the business following the fire of 2021”.
He said that after more normalised operating costs, the business generated the pre-tax profits of €885,604.
Mr Cleary confirmed that the Glenisk board has recently strengthened with the recent appointment of former Green Party Minister for State at the Dept of Agriculture, Dr Pippa Hackett and former CEO of Deloitte Ireland Brendan Jennings, who will chair the board.
On the business performance in 2026, Mr Cleary said: “Our revenue is projected to be up 15% from 2025 to €27m. Although we have been impacted by a number of additional costs due to inflation, 2026 is performing well and we are confident of another good year.”
Mr Cleary confirmed that each day on average, Glenisk produces 300,000 servings of yogurt, employs 80 and supports 50 organic farmers.
He said that the firm’s best selling product is the Glenisk 500g natural Greek-style yogurt.
On last year’s performance, Mr Cleary said: “Glenisk continued to invest heavily during the course of the year and additional funding was directed towards capital investments, made to capitalize on new growth opportunities and to improve the operating efficiency of the business.”
He said that Glenisk launched a number of new products to its portfolio in early 2026, which, he said, are performing well and “we are confident in relation to the outlook for the business”.
He said that Glenisk continues to invest in product innovation, brand support and equipment to help them grow and build the resilience of the business into the future as the €20m investment in the business continues.
Numbers employed remained at 67 as staff costs increased marginally from €4.48m to €4.5m. Pay to directors last year decreased from €1.62m to €1.46m.
The profit for 2025 takes account of non-cash depreciation costs of €841,277 and interest costs of €186,236.
At the end of December last, Glenisk had shareholder funds of €8.4m that included accumulated profits of €3.32m.
Reporting by Gordon Deegan
