Irish Dairy Board reports 87pc hike in profits
Published 16/04/2014 | 08:45
THE IRISH Dairy Board has reported an 87pc hike in pre-tax profits for last year to €22.8m.
Sales were up 5pc to €2.1bn.
Following a droupght in New Zealand and the longer European winter, a milk scarcity arose and prices were pushed up, especially in the first half of the year, boosted also by growing demand from China.
The IDB said it was "well-positioned for expansion" when milk quotas end next year, with new marketing teams targeting countries like Russia, Saudi Arabia and Africa.
It is also debt free.