Irish food industry bucking the downturn

4 January, 2011

Ireland’s economy may be on its knees, but many food-based businesses are thriving, the Irish Independent reports.

Food stocks listed on Ireland’s Stock Exchange were up by an average of more than 20% by the end of 2010, the paper reveals in a round-up of the year. And while many of the star performers it mentions are manufacturers rather than pubs or restaurants, it singles out the fast service sector as a growth area. “The quick service restaurant sector… becomes more and more lucrative as coffee and doughnuts become a staple outside of the US and Canada.”

And what of the year ahead? “Given the state of the wider economy, it’s likely investors will be hoping 2011 is as good for the food industry as 2010 was. With no sign of an upturn elsewhere, it will have to be.”

For the full story, see A tough year for most sectors but food industry bites back with boom.