Glenisk Returns to Profitability Following 2021 Fire, Continues Expansion

Organic yogurt maker Glenisk has returned to profit after sustaining two years of pre-tax losses stemming from a devastating fire that destroyed its production plant in 2021. The company anticipates showing a return to profitability in 2025, according to Managing Director Vincent Cleary.

Financial Recovery and Revenue Growth

Fresh consolidated accounts reveal Glenisk recorded pre-tax losses of €865,121 in 2024, a 37.5% reduction from the €1.38 million loss reported in 2023 [RTÉ]. This improvement coincided with an 18% increase in revenues, rising from €17.4 million to €20.5 million [RTÉ], [Independent.ie]. Revenues continued to increase at the same pace in 2025 [RTÉ].

Investment in New Production Facility

Glenisk is currently halfway through a €20 million investment program to build a new production plant [RTÉ], [Independent.ie]. Despite having the same footprint as the previous facility, the new plant is expected to be more efficient through space optimization and automation [Independent.ie].

Looking Back at the Fire and Future Growth

The 2024 performance is considered the final year impacted by the 2021 fire, which resulted in a complete loss of the company’s production capabilities [Independent.ie]. While sales have rebounded, they remain below the pre-fire record of €27.8 million in 2020 [RTÉ].

Board Changes and Land Acquisition

In 2024, Gerald Cleary and Mark Cleary departed from the board of directors [RTÉ], [Independent.ie]. Aggregate director pay totaled €1.62 million, including €175,675 in compensation for loss of office [RTÉ], [Independent.ie]. Following the balance sheet date, the group acquired land for €659,604 from Gerard Cleary and Mark Cleary [RTÉ], [Independent.ie].

Employment Levels

Employment levels are nearing pre-fire levels, and Glenisk anticipates surpassing those levels in 2026 [Irish Times].