Connacht Gold profits dip slightly

CONNACHT GOLD chairman Padraig Gibbons described the co-op’s results for last year as a solid performance.

The co-op recorded operating profits of €3.295 million, which was down on the previous year’s figure of €3.8 million.

Mr Gibbons said that, given the effects of the second phase of the EU reforms on its dairy business and a huge increase in energy costs, the financial performance has been very satisfactory. “Measures taken in 2004 and 2005 to prepare the business for the EU reforms were vital in maintaining our business performance,” he said.