Hibernia Foods, the Dublin-based own-label frozen dessert company with a share quotation on Nasdaq, has moved into the black. It has recorded a profit before tax of $595,000 in the year ended March 31st 1998, compared with a loss of $773,000 in the previous year. The figures include an eight months contribution from Majestic Food Group which was acquired last year. The profit contribution has not been quantified but the company said Majestic contributed 97 per cent of the 128 per cent increase in sales to $55.79 million. Since the acquisition, Hibernia said it has no involvement in the beef exporting and processing business and its business now consists solely of the manufacture and sale of frozen desserts and frozen meals. Operating margins improved from 3.6 per cent to 16.9 per cent. Diluted earnings per share amounted to $0.06 compared to a loss of $0.14.