Agri firm back in black from €7.6m loss

THE Galway-based agri-business firm Thomas McDonogh & Sons returned to the black last year after selling off a large part of the company.

According to the latest accounts, which cover the year to end September 2005, it made a pre-tax profit of just under €867,000 compared to a loss of €7.6 million in the previous year.

The profit came following a restructuring of the business and the sale of assets, which boosted the company’s coffers by over €4m.