Turnover up 22% to €26m at co-op

TURNOVER at the Kanturk-based North Cork Co-op rose by 22% to €26.3 million last year, generating an increase in profit before taxation from € 69,000 in 2006 to €359,000.

Chairman John Ahern told shareholders at their annual general meeting in Banteer that after a somewhat disappointing start 2007 proved to be outstanding for both product prices and returns to farmers, bearing in mind that the industry is now operating at market prices.

Mr Ahern said there had been a remarkable recovery in international dairy markets, which saw prices soar and peak in the autumn.