There was a piece in the Farmer’s Journal about the profitability of the Monaghan group.
The headline spoke volumes – “Monaghan Mushrooms on target for nearly €9m profits this year”. The journal was “extrapolating” from the figures given from Donegal Creameries in its half year report as a listed company.
A few comments in the piece raised a few eyebrows and the odd chuckle.
The Monaghan Mushrooms group was called the “Ryanair of the mushroom business.” There’s a couple of ways to take that backhanded compliment.
The item also mentioned the company’s “ruthless adherence to its business model which has turned the company into Europe's leading mushroom producer and the second largest producer globally.”
All in all the company is in a healthy state by all accounts – as long as they don’t diversify into the airline business everything should be cushtie.
