Donegal Creameries lifts half-year profits to €3m

PROFITS before tax of €3 million for the half year to June show a huge change in the fortunes of Donegal Creameries over the six months under review.

An increase in operating profit from €0.55m to €1.14m and a better return from the group’s property business, which saw profits rise from €0.6m to €1.9m, account for the better figures, the company said.

Donegal’s turnover rose 5% to €57.4m during the period, while earnings per share rose by 14.4 cent to 23.3c, an increase of 162%.