Thursday 29 September 2016

Strong growth in Aurivo milk pool

Published 27/04/2016 | 02:30

Record weekly production levels were recorded in the Aurivo plants in 2015, as the milk pool grew by 12pc post-quota.

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The Aurivo Co-op Society stated milk price was supported by €8m or 2c/l as it released its latest annual results.

"We had markets for all that additional milk," said Aurivo chief executive Aaron Forde, as they pointed out there was a strong growth in the Connacht Gold butter brand up by 8pc in a "flat" market.

"In terms of business operations we've been on a lean journey of small improvements every day across all our dairy business."

Group annual revenues stood at €420m in 2015, down slightly from €447m, while the operating profit was €3.03m, down from €6.73m. The mart business was up at €86.5m, while agribusiness revenues were down slightly at €101.4m.

It highlighted record weekly production out of Ballaghaderreen dairy ingredients plant, with an investment in a new packing line to start new product areas, and at the liquid milk site in Killygordon, Co Donegal.

Work is also underway following the purchase of the UK business and sports nutrition brand For Goodness Shakes to expand it to other markets.

"It is a business we are very excited about and it has grown strongly since acquisition and is strongly profitable," he said, pointing out that Aurivo has always diversified its portfolio.

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