Profits fall sharply at grain merchant Quinn’s of Baltinglass due to higher energy costs

Profit and loss

The Wicklow-based company reported a 40 per cent drop in pre-tax profits for its 2023 financial year, according to recently filed accounts

Quinn’s of Baltinglass, the Wicklow-based grain merchant business, posted a double-digit fall in profits last year after the company was hit with a surge in energy costs, rising interest rates and significant volatility in grain commodity prices.

Recently filed accounts for the family-owned business show Quinn’s of Baltinglass reported pre-tax profits of €1.8 million for the 12 months to the end of June 2023, which was down 40 per cent on the €3.1 million it …