Business

Wednesday 30 July 2014

Dairygold operating profits rise 33pc to €27.3m

Published 09/04/2014|09:21

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Provision 17/12/03  
A truck backs into the Dairygold plant in Mitchelstown .Pic: Paddy Cummins/Provision
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Dairygold

Dairygold have announced a 33pc increase in operating profit to €27.3m.

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In results published today, the farmer's co-operative reported that revenues for 2013 rose by 16pc to over €847m.

The company also said that milk output was 4pc higher at 959 million litres, a good indicator of Dairygold's milk suppliers' desire for expansion.

Turnover for last year rose by €116m to an impressive €847m, while earnings before interest, taxation, depreciation and amortisation (Ebitda) increased by19pc to €45.4m.

"The excellent financial results achieved in 2013 represent the continuation of the positive trend of the past number of years," commented Dairygold's chief executive Jim Woulfe.

"Our strong financial position, combined with a thought out expansion strategy ensures that the Dairygold business is ready for growth. This will be achieved, both organically in a post quota environment and with strategic acquisitions as appropriate," he added.

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