Arrabawn says 2009 toughest year yet

ARRABAWN never faced such tough trading conditions since it commenced business nine years ago as it did in 2009, shareholders were told at the co-op’s annual general meeting in Nenagh, Co Tipperary, yesterday.

Arrabawn reported €1.87 million profit before tax for 2009, compared with a pre-tax loss of €2.033m in 2008. Operating profit was €1.26m before exceptional items, compared with a loss of €1.6m in 2008.

Overall turnover of €125.8m was down from €165m in 2008. Dairy division turnover of €76.35m was down from €100.8m, driven by reductions in world dairy product prices.