Irish Yogurts in Clonakilty has secured €320,000 more in taxpayer funding from Enterprise Ireland. Two share allotments were effected in February. The company had previously received €600,000 from the state agency in exchange for preference shares.

Irish Yogurts Ltd, led by Diarmuid O’Sullivan and Mary Daly (pictured), had turnover of €16.7m in the year to end November 2014. Gross profit was €4.3m and the net profit was €389,000, down from €508,000 the year before.

Capital investment at the company since it started in 1994 has amounted to €12m, with capex of €3.6m in 2014. Term loans from AIB in November 2014 amounted to €4.8m, up from €2.9m the year before.

Current liabilities at financial year-end stood at €4.8m, up from €3.5m a year earlier. Net worth at year-end was 9.5m

As well as making branded products, Irish Yogurts supplies own-brand yogurts to multiples such as Tesco.

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