€1.75m loss for Connacht Gold

A €1.75 million loss was recorded by Connacht Gold last year, according to the co-op’s annual report published yesterday.

Group turnover was €310m, down 2.8% on 2007, due to declining dairy product prices and lower returns from investments and property. Gross profit fell from €73m to €62m.

The co-op said that the slump in international dairy markets resulted in a challenging year but it was strong financially and operationally.