Arrabawn sales up to €126.8m

SALES at Arrabawn Co-op increased marginally to €126.8 million in 2004 from €125.7m in 2003, the firm disclosed yesterday.

Shareholders at the firm’s annual general meeting in Nenagh yesterday were told pretax profits fell from €3.82m in 2003 to just €520,988 last year but the 2003 results were boosted by once off gains of €4.32m which included the sell-off of IAWS shares and property.

The society, formed from the merger of Nenagh and Midwest co-ops, recorded a trading profit of €960,941 just behind the €1.01m earned in 2003.