L-r: Mark Turley, chief executive, ClonBio and Richie Boucher, chairman, ClonBio.
Image: Shane O Neill, Coalesce
Irish owned agribusiness, ClonBio Group has announced record profits after tax for the year ended December 31, 2020 of €96 million.
The group also announced the appointment of
Richie Boucher as chairman, as it progresses a €200 million, three-year investment programme into a variety of bio-based products, led by alternative protein concentrates for use in human and animal nutrition.
For the fourth successive year, the group materially increased its rolling capital expenditure programme. €66 million was invested in 2020 in the first tranche of its current three-year (2020-2022) investment strategy.
Financials
Ex-BoI chief executive Boucher named chairman of Clonbio Group Richie Boucher joins agribusiness as it reports record full-year profits of €96m
Fri, May 14, 2021, 11:06 Updated: Fri, May 14, 2021, 11:07
Irish-owned agribusiness company ClonBio Group has appointed former Bank of Ireland chief executive Richie Boucher as its chairman.
The appointment comes as the company reported a marginal increase in pretax profits despite the coronavirus pandemic to €96 million for 2020. This compares to €95 million a year earlier. Turnover totalled €360 million as against €361 million in 2019.
Clonbio is in the middle of a €200 million, three-year investment programme into a variety of bio-based products, led by alternative protein concentrates and isolates for use in human and animal nutrition. It said it invested €66 million under this strategy last year with a similar figure for 2019.
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