Co-op profits decline by 30%

PRE-TAX profits at Tipperary Co-op fell by nearly 30% in 2005.

This was due to a significant drop in product prices, reduction in EU supports and large increases in energy costs according to the 2005 accounts. Overall profits stood at €756,000.

Financial Controller, Michael Dunlea said turnover was up 5% on last year at €116 million.