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Dairy 16pc profit spike

FOOD group Connacht Gold recorded a 16pc increase in turnover in 2011, reaching €345m.

Operating profit for the dairy, consumer foods and agri-business co-operative was €3.29m, compared to €3.24 in 2010.

The company said that the increased turnover was driven primarily by a substantial increase in the value of dairy ingredients sales and a record year for sales in its livestock marts business.

Connacht Gold chief executive Aaron Forde said the figures represent a steady performance.