Co-op reports €2.7m profits

HIGHER turnover pushed Tipperary’s Arrabawn Co-op into profit last year.

The annual report for the Nenagh-based co-op shows an operating profit of €238,389 compared a to a €2 million loss in 2005. When exceptional items are taking into account, the society made a pre-tax profit of €2.7m for 2005.

Turnover for the year was nearly €10.5m higher at €132.4m, with most of the growth coming from its trading division with turnover here up from €37m in 2005 to €46.5m.