Annual statement 2019

In 2019 we delivered a fifth year of consecutive growth. This laid strong foundations for the business, which proved essential to meet the challenges of the Covid-19 pandemic at the beginning of 2020.

While our most recent results are an important record of our business and the success of our brands in 2019, we would like take this opportunity to thank our people and partners who, in recent months, have come together in a spirit of collaboration to keep food on the shelves and communities safe in these unprecedented times.

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Solid growth in 2019

Noel Keeley, CEO, Musgrave

While the world is changing, our overarching purpose of Growing Good Business has become more relevant than ever. It means having a commercially successful business, but also a sustainable business that will leave a lasting legacy for future generations.

In 2019 our innovative and agile response to consumer demand delivered solid growth. Group turnover amounted to €3.9 billion, up 2.4% on 2018 when normalised for the impact of currency movements. Our brands remained leaders in their respective markets, and we continued to increase their presence internationally.

We have learnt a huge amount during these exceptional times; we will take the best of it and build upon it. I am delighted to have taken the role of Musgrave CEO this year. I extend my thanks to Chris Martin for leaving the business in such a strong position, and I would also like thank all our colleagues and partners for their support, resilience and cooperation during this terrible pandemic.

Group turnover € billions
Profit before tax € millions
Net cash € millions

Taking care of our world

In 2019, our commitment to the United Nations Sustainable Development Goals (SDGs) was recognised by the Irish government when it appointed Musgrave as a UN SDG Champion. We have been tasked with furthering awareness of and promoting action on delivery of the SDGs among the public and businesses across the country.

The four SDGs that we are championing are:

  1. Good health and well-being
  2. Decent work and economic growth
  3. Sustainable cities and communities
  4. Responsible consumption and production
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