Donegal Creameries has reported a 51% jump in net profits to Euro 2.8 million in 2006, driven by strong performance across all business units.
Turnover grew by 6.2% to Euro 118.6 million last year, while operating profit rose from Euro 120,000 to Euro 2.6 million.
The group's agri-business division saw sales increase by 11% to Euro 64 million. However the group's shareholding in struggled in the second half of the year due to an oversupply of mushrooms in Europe it was reported.
Managing Director, Ian Ireland, said that the group had had a "satisfactory start" so far this year and that the trading outlook for 2007 was good.
He added that the group's dairy and agri-business would continue to provide cash for "expansion in selective operational growth areas or further development in our property assets."
Nice to have shares in Donegal at this point, n'est-ce pas?
