IAWS Group, plc logo Annual Report 2003
Chairman's Statement
Group Managing Director's Review
Financial Review
Introduction

IAWS Group, plc is a market leader in speciality convenience foods in Ireland, the United Kingdom and North America. The Group has a century old tradition of food production rooted in Ireland’s agricultural co-operative movement as a major fertiliser, fish protein and animal nutrition supplier. IAWS is a fully listed company on the Irish and London Stock Exchanges which has expanded successfully from its traditional agricultural base into the rapidly growing international "food-to-go" business.

IAWS entered the convenience food market in 1998 with the acquisition of Cuisine de France in Ireland. This business, which produces speciality breads and confectionery for the retail trade, has since expanded into the United Kingdom and the United States. Delice de France, acquired in 1999, offers the foodservice industry a wide range of desserts, speciality confectioneries and savoury products. The Group’s hot food offering is marketed under the Pierre’s brand through forecourts and other convenience food outlets.

La Brea is the leading producer of premium artisan breads in the United States, with state of the art bakeries in California and New Jersey. In Canada the Group operates a joint venture bakery facility with Tim Hortons producing baked goods for the Tim Hortons quick serve restaurant outlets in Canada and the US.

In Ireland, Shamrock Foods has a leading position in the distribution of branded household food, including the IAWS owned Roma Foods. Roma is the brand leader in pasta for home cooking and its product range also includes rice, ready made meals, tomato based products and stir in sauces.

IAWS is a substantial blended fertiliser supplier in Ireland and Britain. The Group’s UK horticultural fertiliser producer, PB Kent, supplies the professional, niche agricultural and home garden markets. In Ireland, Goulding is a major supplier to agriculture. R&H Hall has key installations in major ports throughout Ireland for the importation and supply of animal feed ingredients to provender millers. The marine protein and oil business supplies quality fishmeal for the growing aquaculture sector from processing plants in major Irish and UK fishing ports.

IAWS’ roots in the agricultural sector have provided the background and cash flow to enable it to grow successfully into the international convenience food business. Based on these twin pillars, the Group has grown rapidly in recent years.